Trading expert predicts when Bitcoin can rally to $100,000

Bitcoin (BTC) recorded two strong rallies in under two months that took the world’s premier cryptocurrency 35% higher, from $62,938 at the start of August to $85,265 at press time on September 23.

This upsurge can, in the foreseeable future, lead BTC to reclaim the psychologically critical $100,000 level, per the analysis published by the popular trading expert Ali Martinez on X on Tuesday.

Specifically, Bitcoin is, so far, holding steady above the $84,569 support and has little in terms of resistance before hitting $104,765. 

The bull thesis is, according to Martinez, further reinforced by large investors accumulating additional cryptocurrency rather than taking profits, and by significant exchange-traded fund (ETF) activity.

The analyst highlighted the fact that September 21 saw 2,722 transactions worth more than $1 million and that, within just 72 hours, ETFs accumulated $1.60 billion worth of BTC.

Finally, the trading expert highlighted that Market Value to Realized Value (MVRV) pricing bands also hint at Bitcoin having little in terms of resistance before crossing above $100,000.

Still, Martinez did not offer an exact timeline for the hoped-for rally, merely stating that the psychological threshold remains ‘in focus’ as long as demand stays strong.