- Bitcoin stayed above $98K, marking its highest close in nearly three weeks.
- Traders are watching $100K as a crucial resistance level for further gains.
- Bitcoin’s performance aligns with gold and equities amid market recovery.
The Bitcoin price surpassed $98,000 on February 21 to set its strongest daily closing level in about three weeks. The market analysis revealed that Bitstamp registered Bitcoin at a closing value of $98,330. Investors gained relief through this price surge following an extended period with low market volatility. The recent US macroeconomic data drove Bitcoin price to achieve new all-time highs. Latest jobless claims data exceeded expectations by projecting 4,000 to reach 219,000 new applications. This suggests potential vulnerability that would affect upcoming monetary policy decisions.
Traders Focus on Key Resistance at $100K
Bitcoin analysts have identified $100,000 as a crucial resistance level for further gains. Trader Patric H. stated that Bitcoin price must break two descending trend lines before confirming an upward move. He added that the market was waiting for a decisive move in either direction.
Another trader, Roman, pointed to $98,400 as a key pivot point that could trigger a $10,000 rally. He noted that lower trading volume during Bitcoin’s recent consolidation suggested a possible breakout. If Bitcoin surpasses this level, Roman believes $108,000 could be the next target.
Bitcoin Price Joins Gold and Stocks in Market Rally
Bitcoin’s recent recovery has aligned with gains in traditional markets, including gold and equities. Stock market indicators S&P 500 and gold set all-time highs which demonstrates an ongoing market increase. Investors demonstrate increasing faith in speculative assets during changing economic situations.
The total value of gold holdings reached an all-time high exceeding $20 trillion during this historical period. Analysts at The Kobeissi Letter have found that gold produced more returns than the S&P 500 in 2025. The correlation between gold and equities remained high in 2024, reflecting changing market dynamics.
Bitcoin Price Performance Compared to Gold
Despite gold’s rally, Bitcoin supporters remained focused on its long-term growth. Economist Timothy Peterson highlighted that Bitcoin has historically doubled in value every 16 months on average. He compared this growth to gold’s five-year return, emphasizing Bitcoin’s rapid appreciation.
Bitcoin price has strengthened the bullish sentiment by holding above the $98,000 threshold. The market expects Bitcoin price to break past its current levels which might trigger its rise above six figures. Bitcoin shows potential to increase its value further during the following weeks provided current momentum remains strong.
