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Bitcoin pushed aggressively past the $94,000 mark, reaching a session high above that level before stabilizing near $93,675. This reflects a 3.58% rise over the past 24 hours, signaling strong short-term momentum.
Technical Snapshot
Momentum indicators continue to favor the bulls. Both MACD and EMA trends remain firmly positive, showing strength in the current move. However, the hourly RSI is hovering around 74, placing Bitcoin in overbought territory and increasing the chances of a short-term pause or pullback.
Key Drivers Behind the Rally
Interest rate expectations: Markets are increasingly pricing in a possible 25 bps rate cut by the U.S. Federal Reserve, supporting risk assets such as Bitcoin.
Institutional demand: Digital asset adoption among institutions remains strong, with a large percentage actively involved in 2025. A recent movement of 535 BTC (approx. $50.1M) to a private wallet points toward continued accumulation by major holders.
Regulatory tailwinds: Supportive policy developments in both the U.S. and UK—including crypto-friendly regulatory initiatives and legal clarity—are reinforcing investor confidence.