This afternoon, Bitcoin’s value surged past the $94,000 mark, breaking through a significant resistance level and indicating a resurgence of bullish sentiment after several weeks of stagnant trading.
As of this moment, Bitcoin is priced at $94,435, reflecting an increase of approximately 3% in the last 24 hours based on market data.
This movement signifies a clear reclaiming of the upper boundary established during January’s consolidation phase. Currently, Bitcoin’s price is nearly unchanged compared to its seven-day peak at $94,040 and about 4% higher than its seven-day low recorded at $90,897.
The trading volume over the past day reached around $52 billion, showcasing increased market engagement as prices rose.
Bitcoin’s overall market capitalization has climbed to $1.88 trillion today as well—also up roughly 3%, reinforcing its status as the leading cryptocurrency in the market.
The circulating supply of Bitcoin currently stands at 19,975,465 BTC—just shy of its capped limit set at 21 million coins by protocol rules.
Is Powell Facing Pressure from Within the Fed?
Recently over the weekend, news broke that the U.S. Department of Justice has initiated a criminal investigation into Federal Reserve Chair Jerome Powell. This development sent shockwaves through financial markets and coincided with renewed fluctuations in Bitcoin’s price.
This inquiry represents a significant escalation in an ongoing conflict between both White House officials and those within U.S. central banking circles along with their Chairperson.
Powell revealed via social media that grand jury subpoenas were issued to Federal Reserve officials by DOJ investigators while hinting at potential criminal charges related to his congressional testimony from June 2025 concerning renovations costing more than $2.5 billion for Fed office buildings.
The Fed chair described this investigation as politically driven; he argues it demonstrates increasing pressure from Trump administration figures pushing for aggressive interest rate cuts instead of maintaining current monetary policies.>
JUST IN: Bitcoin rises above $94K!
pic.twitter.com/MqL8FpMvhT
An Analysis on Bitcoin Prices
The rally observed on Tuesday follows earlier indecisiveness seen throughout this week when Bitcoin consistently tested resistance levels near $94K but struggled to maintain them effectively above that threshold.
Recent weeks have shown erratic price movements confined within approximately between values ranging from around $84K up until about$94K; analysts had cautioned bulls needed clear breakouts beyond these resistances if they hoped regain dominance over trends moving forward successfully.
That breakout now seems imminent! Sustained movements surpassing prices exceeding four digits could pave pathways toward even higher resistances situated anywhere between ranges spanning roughly$98k-$103500 where previous upward attempts faced caps before!
Failure here would mean slipping back down into earlier trade zones again!
This surge occurs amidst ongoing macroeconomic uncertainties prompting investors closely monitor inflation patterns alongside expectations surrounding interest rates while keeping tabs on broader political dynamics tied directly towards monetary policy decisions being made today!
Over recent months we’ve witnessed bitcoin increasingly move hand-in-hand with larger macro narratives wherein some participants view it not just merely speculative assets but rather effective hedges against instability resulting from policies enacted which may lead ultimately long-term currency debasement risks too high for comfort levels !
While volatility remains likely short term ahead , reclaiming & holding onto those coveted numbers like ’94000’ marks notable shifts occurring sentiment wise across marketplace . Traders /analysts alike now eagerly await whether bulls can build momentum converting prior resistances turned supports days following suit .
As we write , current pricing sits firmly placed around ’94323’ USD per coin respectively !
This article titled “Bitcoin Price Roars Past $94k As Bulls Reclaim Key Resistance,” was originally published by Micah Zimmerman on Bitcoin Magazine