Bitcoin has again taken center stage as it surpassed the $100,000 level, fueled by the growing geopolitical tensions between Pakistan and India. The recent price action is not only a sign of a bullish trend in the market but also a solid change in sentiment towards the world's largest cryptocurrency as a safe-haven asset during times of global uncertainty.
The India-Pakistan war, which was sparked by the Pahalgam attack and the Indian military's initiation of Operation Sindoor, has seen a wave of geopolitical tension wash over the entire South Asian continent. Amidst this heightened uncertainty, Russian lawmaker Anatoly Aksakov attributed the increasing demand for Bitcoin to escalating international tensions.
In Aksakov's opinion, times of conflict and upheaval do have a tendency to push capital into non-sovereign forms such as Bitcoin, the same way that gold has seen in past crises. He highlighted the increasing usage of BTC during times of political and economic unrest, even possibly in foreign weapons transactions, although he refrained from citing explicit examples.
This perspective has complemented Bitcoin's story as a store of value e-store, confirming its application not only for speculation purposes but also as a strategic wealth protector.
The price surged to $103,500, its highest in months since. Breaking the primary resistance level of $97,700 marks the beginning of a fresh upturn as institutions and investors keep on flowing in the midst of the prevailing overall market uncertainties.
The world's top cryptocurrency now trades at about $102,700 in the meantime and still remains above the $100K psychological support barrier.
Source: TradingView
The Relative Strength Index (RSI) remains well above 70, which is the overbought level and will lead to a short-term correction. However, the underlying bullish strength suggests that prices can hold up. Meanwhile, the MACD is also showing a possibility of a bullish crossover, which, if seen, will encourage the next wave higher in the rally of BTC.
With geopolitical instability driving institutionally led inflows, the road to Bitcoin's all-time high of $109,588 remains within sight, as long as near-term overbought levels are addressed via consolidation or minor-sized corrections.
If BTC remains above the $100K mark, the next logical target could be around $105,000, a very strong psychological and technical resistance level. Breaking there could set up a retest of all-time highs, or even a break above $110,000 once FOMO sets in.
Yet, if the asset rebounds through its overextended RSI, dips to the $98,000–$100,000 levels may see perfect buying points, providing bullish speculators with an opportunity window to get in or reinvest on consolidation.
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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