Bitcoin Faces $84,000 Resistance, Can It Break Through to the Dream $100,000?

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With massive institutional capital and explosive buying momentum, the leading cryptocurrency Bitcoin (BTC) has surged past $81,000, heating up the market. Optimistic forecasts are pouring in, suggesting that if it breaks the crucial resistance level of $84,000, it could then pass $91,000 and make a vertical ascent to the dream target of $100,000, bringing investor expectations to an all-time high.

According to the investment media outlet TradingNews on May 5 (local time), Bitcoin touched $81,705 during Tuesday's trading session, reaching its highest point since January 31, 2026. It is currently trading around $81,592, up approximately 1.92%, and has recorded a cumulative return of about 8% through a six-consecutive-day rally. This marks the longest continuous ascent since early October last year, confirming strong buying pressure that goes beyond merely defending against declines.

The most powerful driving force behind this rally is the influx of massive capital through spot Exchange Traded Funds (ETFs). Recently, over $600 million flowed into these funds on a single trading day, driving up prices. This was further accelerated by a short squeeze, where short-betting positions worth $270 million were forcibly liquidated (buying pressure occurring to close or cover short positions). Additionally, miners and long-term holders are also holding onto their assets tightly instead of selling them into the market, exacerbating a structural supply shortage.

Experts diagnose that Bitcoin has entered a tight technical resistance zone between $81,000 and $84,000. If it decisively breaks through this zone and achieves a daily close above it, the next technical targets will open up at $91,000 and $98,000. The current daily Relative Strength Index (RSI) is hovering between 60 and 65, maintaining healthy upward momentum without falling into an overbought state, suggesting a lower probability of being futilely pushed back from the resistance line as in the past.

However, defending key support levels is essential to maintain the optimistic trajectory. In the short term, the low of May 3 at $78,068 acts as the last line to determine the upward trend. If this line breaks and prices fall below $73,000, the bullish structure would be damaged, potentially leading to a painful retracement down to the $60,000 level.

The thick fog of macroeconomic uncertainty also remains a variable. The release of the US Consumer Price Index, the possibility of a Bank of Japan interest rate hike, and geopolitical instability in the Middle East remain triggers that could shake the entire asset market. However, the media analyzed that legislative progress on the US cryptocurrency market structure bill, the CLARITY Act, is acting as a quiet catalyst for institutional adoption, making long-term bullish fundamentals more robust than ever, despite short-term volatility.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*