Bitcoin's Breakout Towards $100,000 Hinges on One Crucial Candle

Bitcoin's recent price surge has some traders wondering if it will breakout towards $100,000. According to Crypto analyst Benjamin Cowen, one crucial candle will decide this week's outcome: a strong weekly close above $82,000.

Cowen notes that Bitcoin's current price of around $84,000 is its highest level since January 2026. A weekly close above the May highs of around $82,500 would give traders more confidence in the breakout.

However, macro conditions are making this test more difficult. The 10-year Treasury yield has topped 5% for the first time in 19 years, and September's flash PMI data came in stronger than expected, making risk assets like Bitcoin less attractive.