Bitcoin (BTC) reclaimed the $90,000 level last Saturday (3). The move unfolded on a day marked by major geopolitical developments and coincided with a symbolic moment for the cryptocurrency.
At the time of writing, Bitcoin was trading above $91,300. The asset was up 1.5% over the past 24 hours, according to CoinGecko data.
With that, BTC heads into its fourth consecutive day of gains this Sunday (4). This streak had not been seen since October. Against this backdrop, the key question emerges: can Bitcoin extend the rally toward the $100,000 mark?
Bitcoin Responds to Geopolitical Tensions and Strengthens Its Hedge Narrative
Bitcoin’s move back above $90,000 came on a highly eventful day. Earlier, U.S. President Donald Trump stated on his Truth Social platform that the United States had carried out a large-scale attack against Venezuela. According to Trump, President Nicolás Maduro was captured and removed from the country.
Shortly after the announcement, Bitcoin broke above the $90,000 resistance level. This reaction was not random.
Historically, Bitcoin tends to attract demand during periods of global uncertainty, often acting as an alternative hedge. During times of heightened tension, investors look for protection outside traditional financial systems.
On the same day, U.S. national debt surpassed $38 trillion, reinforcing long-term fiscal concerns. Record debt levels put pressure on the dollar and can undermine confidence in the broader U.S. economy.
In this context, Bitcoin gains appeal as a decentralized store of value. The combination of geopolitical stress and fiscal imbalance creates a supportive environment for scarce assets like BTC.
Genesis Day Reinforces Bitcoin’s Scarcity Narrative
Bitcoin’s rally also coincided with Genesis Day, the anniversary of the first block mined on the network. The date holds strong symbolic meaning within the crypto community, marking the birth of a monetary system built on fixed supply and transparent rules.
The significance of the moment echoed across social media. Paolo Ardoino, CEO of Tether, commented on the occasion by resharing a company post that described the genesis block as “the most important string of text in financial history.” The message resonated with many market participants.
In an environment where global debt continues to expand, the idea of programmed scarcity becomes increasingly relevant. Genesis Day goes beyond symbolism.
It highlights the contrast between Bitcoin and fiat currencies that can be expanded without limits. This narrative helps explain why Bitcoin often sees renewed interest during periods of economic uncertainty.
Technical Analysis Signals Further Upside, but Volatility Remains a Risk
From a technical standpoint, Bitcoin delivered another important bullish signal beyond reclaiming $90,000. On the daily chart, the 9-day exponential moving average crossed back above the 21-day EMA. This crossover suggests that short-term momentum has turned positive.
The last time a similar signal appeared was in early October. At that time, Bitcoin launched a rally that eventually pushed prices to an all-time high above $125,000. Now, the setup opens room for another upward leg toward $100,000.
However, the price must first break through the resistance zone between $92,700 and $93,500. Technical indicators support this scenario.
The RSI continues to climb and remains above 50, while still far from the overbought 70 level. This suggests there is room for further upside. Meanwhile, the MACD reinforces the current bullish bias.
That said, risks remain on the radar. Analyst Lennaert Snyder noted on X that major market participants are expected to return on Monday (5). According to him, this could lead to “more volatility on Bitcoin.” As a result, short-term pullbacks cannot be ruled out.
Frequently Asked Questions (FAQs)
The $100,000 level remains a key psychological target. It could be reached if Bitcoin breaks intermediate resistance levels. A supportive macro environment would also be essential.
Geopolitical events increase risk aversion in traditional markets. In response, investors often seek alternative assets. Bitcoin benefits from being decentralized and independent of governments.
Yes, that risk remains. The return of large players may increase volatility. Profit-taking is also common after several consecutive days of gains.