Bitcoin Struggles to Break $100,000 but Shows Signs of Strength

Bitcoin's Current Price Action

Bitcoin (BTC) continues to face challenges in surpassing the $100,000 mark, struggling to gain momentum after a brief recovery from Monday's drop. At the time of writing, BTC is trading at $98,928, showing minimal gains of 0.02% over the past 24 hours. The cryptocurrency has been oscillating below the daily SMA 50 at $98,726, unable to break decisively above $99,000 in recent sessions.

Improving Liquidity and Market Sentiment

Despite the uncertain outlook, Bitcoin's liquidity conditions are improving as it holds within the $97,000 to $98,500 range. This consolidation phase often precedes a significant breakout or breakdown, with market analysts leaning toward an eventual upside move.

Bitcoin's Growing Role as a Global Asset

Bitcoin has solidified its position as a global asset, offering deep liquidity available around the clock. This allows investors to trade and express macroeconomic views even when traditional markets are closed. The Bitcoin network has attracted over $850 billion in net capital inflows and processes nearly $9 billion in daily economic volume. Its dominance has surged from 38% to 59% since the FTX collapse in 2022, reflecting a strong capital rotation into BTC.

With fundamentals continuing to strengthen, Bitcoin is poised for another attempt to breach the $100,000 level, underscoring its resilience and growing influence in the financial landscape.