Bitcoin Eyes $100K as Bulls Regain Control After Dip
Bitcoin is once again showing strength, recovering swiftly from recent losses and setting its sights on the coveted $100,000 mark.
Derar Hadri 
Bitcoin is once again showing strength, recovering swiftly from recent losses and setting its sights on the coveted $100,000 mark. After a notable dip, the cryptocurrency is now testing a key resistance trendline that dates back to its January all-time high.
As of the latest data, Bitcoin is trading at $84,289 — marking a 1.2% gain over the past 24 hours. This uptick contrasts with last week’s 3.5% decline. However, over the past 30 days, Bitcoin still holds a loss of 9.4%.
An analyst on TradingView highlighted the emergence of a powerful daily candle that has wiped out the losses of the previous three sessions. The Relative Strength Index (RSI) has also rebounded from its rising support, signaling a potential continuation of bullish momentum.
Despite the positive signs, Bitcoin now faces a significant technical hurdle: a falling trendline originating from its all-time high on January 20 near $110,000. This resistance aligns with the 50-day moving average and marks the fifth time Bitcoin has tested this level. A decisive breakout could confirm a shift toward a long-term bullish trend, with the next key target near the 2.0 Fibonacci extension — just under $100,000, aligned with February’s resistance zone.
Whales Accumulate Amid Market Optimism
Institutional and high-net-worth investors appear to be backing this bullish outlook. According to data from Santiment, wallets holding between 1,000 and 10,000 BTC have grown in number. As of March 31, there were 1,993 such wallets — the highest count since December 2024. Over the past five weeks, 50 new whale wallets have been added, reflecting a 2.6% increase.
Whale accumulation typically signals growing market confidence, as it often leads to reduced supply on exchanges — a dynamic that can drive prices higher due to increased demand.
Exchange Flows Suggest Holding Behavior
Supporting this bullish narrative, exchange data shows a decline in net Bitcoin flows. Over the last 24 hours, exchange outflows surged, with net flows dropping by 37.55%. This suggests that traders are opting to hold rather than sell — a common sign of growing confidence in future price recovery.
Over the past seven days, netflows are down 5.21%, reinforcing the short-term bullish sentiment. However, the 30-day netflow data remains positive (+37.10%), indicating that some profit-taking or long-term selling pressure may still be present, which aligns with the recent price correction.
While uncertainty remains in the longer-term picture, the recent surge in whale accumulation and short-term exchange outflows point toward renewed bullish energy in the Bitcoin market. All eyes now turn to the key resistance level that could open the door to $100,000.
