Bitcoin has completed a significant test above the $100,000 level for the first time, holding it for over 30 consecutive days. Despite a 10% pullback to $100,428 on Friday, buyers stepped in and propped up the price to $105,000. The milestone marks a psychological hurdle for many investors but is seen as a positive indication for the digital asset.
Experts point to this achievement as a bullish sign, indicating that the cryptocurrency has successfully broken through a major resistance level. Harvey, technical analyst at Wolfe Research, notes that the ability to hold the price above $100,000 on the back test aligns with the 50-day moving average, suggesting a strong foundation for further gains.
Crypto research and charting platform DYOR’s CEO Ben Kurland believes that $100,000 has become a new floor being tested by institutional flows, ETF inflows, and a maturing investor base. He predicts that sustained consolidation around all-time high levels will set bitcoin up for its next leg higher, potentially targeting the $120,000-$130,000 range.
Tyrone Ross, founder and president of 401 Financial, notes that while the milestone is psychological rather than technical, it can still drive the coin higher. Long-term holders have shown increased spending in recent days, which could attract retail interest once bitcoin stays above $100,000.
The data from CryptoQuant shows a significant decrease in spending by long-term holders and a slowing pace of price gains. However, experts remain optimistic about bitcoin’s potential for further growth, citing the importance of sustained consolidation around all-time high levels.
Source: https://www.cnbc.com/2025/06/10/bitcoin-held-above-100000-for-30-days-for-the-first-time-ever.html