- Bitcoin Jumps to $97K as US-Russia talks boost market confidence, pushing Bitcoin higher.
- Big Players keep Buying, adding 28K BTC, showing strong long-term belief.
Bitcoin (BTC) has surged back to $97,000, majorly influenced by geopolitical developments and institutional confidence. Renewed diplomatic efforts between the US and Russia have eased market fears and contributed to Bitcoin’s recent highs. As the broader financial market responds positively, many investors are eyeing a potential bull signal.
Over the past 24 hours, the price of BTC soared around 6% and is currently priced at $97,214. Despite this, the daily trading volume of Bitcoin declined by around 23% to $28.75 billion.
Bitcoin remains highly sensitive in the ongoing recent market tension. While Trump’s large tariff has added some downward pressure on the token, the renewed diplomatic talks between U.S. President Donald Trump and Russian President Vladimir Putin have reignited the possibility of a ceasefire.
In response, Ukraine’s President Volodymyr Zelensky has tagged this as just Russian propaganda but the market still remains optimistic.
Polymarket predicted a 67% possibility of a ceasefire occurring in 2025. This could lead to the reopening of trade routes, which result in fewer sanctions and inflationary pressures will reduce, and ultimately strengthen Bitcoin’s long-term appeal.
Institutional Accumulation Signals Strength
Institutional investors continue accumulating Bitcoin, reinforcing its bullish trajectory. This accumulation suggests long-term confidence in Bitcoin’s value proposition. On-chain data from CryptoQuant highlights that institutional entities have acquired over 28,000 BTC ($2.6 billion) via over-the-counter (OTC) channels, signaling strong hands-absorbing supply.
Metaplanet recently announced its Bitcoin holdings, after adding 68 Bitcoin now holds 0.01 of overall Bitcoin. Tsignal trust and long-term holding of the asset by the institutional adopters.
*Metaplanet Reaches 0.01% of Total Bitcoin Supply* pic.twitter.com/0fgubEYkaA
— Metaplanet Inc. (@Metaplanet_JP) February 20, 2025
Despite some outflows from Bitcoin spot ETFs—totaling $580.2 million last week—the broader trend indicates continued institutional interest. If ETF inflows regain momentum, Bitcoin could see sustained upward pressure, challenging its resistance levels. Analysts point to institutional adoption as a key driver for Bitcoin’s long-term price appreciation.
Technical Outlook: Resistance at $98,000 and Key Support Levels
Bitcoin now faces a critical resistance level at $98,000. A breakout above this point could open for a possible $100,000 rally. However, if BTC fails to breach this level, it might result in a retest of key support zones, with $94k and $90k identified as downside targets.
Bitcoin’s Relative Strength Index (RSI) remains below the mid-50 mark, meaning a bearish trend could occur. But a breakout above the signal line will be a hope for another bullish trend.
Analysts are divided about Bitcoin’s short-term outlook, with some firmly believing a bull season is already underway, while others caution against a premature rally due to potential supply imbalances and declining mining activity. Akademik, a prominent market analyst, in a trading view post, has projected a possible correction to $80,000.
On the other hand, Anthony Scaramucci remains bullish. During a recent interview with Saxo, Anthony predicted that Bitcoin could soon peak at a $4 trillion market cap this year and may reach $200,000 by 2025.
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