Bitcoin Price Targets Return Toward $97K

Bitcoin Price has begun showing renewed strength as bulls regained control around the $90,000 level, keeping support intact during the Thanksgiving period and pushing fresh optimism toward the $97,000 and $100,000 regions. With the reduction of selling pressure in the United States due to the holiday lull, Bitcoin entered a more favorable environment, allowing buyers to maintain momentum after reaching weekly highs. As traders assess the latest market signals, confidence is growing that Bitcoin may be preparing for another significant move upward.

Bitcoin’s recent price action on the one-month chart highlights a steady recovery from earlier pullbacks, showing renewed momentum as buyers defended key support levels. The chart reflects a clear shift in sentiment, with higher lows forming throughout the month and stronger reactions near the $90,000 zone. This upward structure aligns with the broader market narrative of reduced selling pressure and improving spot activity, reinforcing the view that Bitcoin may be building the foundation for another push toward the $97,000 target and beyond.

Bitcoin Price Holds $90K Support Into the Weekend

Bitcoin Price retained the crucial $90,000 support level after touching weekly highs near $92,000 earlier in the day. The absence of a Wall Street trading session during the U.S. Thanksgiving holiday helped reduce short-term volatility, giving bulls breathing room to stabilize the market. Traders described this pause as a welcome relief, noting that the reduced selling pressure removed one of the obstacles that had previously weighed on BTC.

Market watchers highlighted a nearby resistance zone centered around the 2025 yearly opening level, positioned slightly above $93,000. This area is now seen as the next major challenge that Bitcoin must overcome. Analyst Michaël van de Poppe commented that a breakout above this level could push Bitcoin firmly back toward $100,000. He noted that the bounce from recent lows had been strong and emphasized the importance of consolidating before attempting a push beyond resistance.

Charts shared by van de Poppe displayed a clear upward trend, but he cautioned traders to remain patient until Bitcoin Price confirms a breakout. According to him, a measured approach is the best way to avoid being caught in premature bullish moves.

Liquidity Pockets Point Toward the $97K Zone

Another key factor influencing market sentiment is the order-book liquidity landscape. Trader Daan Crypto Trades highlighted the region between $97,000 and $98,000 as a compelling upside target. He explained that this zone has become heavily stacked with liquidity following the persistent sell-off that occurred one to two weeks earlier. That previous wave of selling created a series of marginally lower highs, forming what he described as a significant liquidity pocket.

This liquidity pocket is notable not only because of the volume clustered there, but also because it aligns with a clean horizontal price level. For traders who track order-flow dynamics closely, such a confluence strengthens the case for this range becoming an important target during the next leg upward. Daan Crypto Trades advised market participants to closely monitor how Bitcoin behaves as it approaches this region, as it could signal whether momentum is strong enough to continue toward higher milestones.

At the same time, van de Poppe noted that while a move toward $97,000 appears increasingly likely, he would not oppose a retest of $88,000 first. He clarified that such a retest would not change his broader outlook, which remains firmly bullish. Calling the cycle “far from over,” he pointed out that healthy dips during bull markets often create safer entry points and help maintain long-term market structure.

Bitcoin Price Gains Strength as Spot Markets Improve

Further boosting market optimism, analysts from CryptoQuant observed meaningful improvements in spot market behavior. J. A. Maartunn, one of the platform’s contributors, highlighted that the taker cumulative volume delta had begun shifting from negative to neutral territory. This movement is considered a positive sign because it indicates that aggressive selling is slowing down and could eventually give way to renewed buying activity.

Maartunn described this change as a significant step forward in the recovery process. Earlier in November, negative spot taker CVD had raised concerns among analysts, especially since it appeared while BTC was still trading above $100,000. That imbalance reflected sustained pressure from sellers, but the recent normalization suggests that conditions are now healthier and more aligned with bullish expectations.

Another CryptoQuant contributor, XWIN Research Japan, expanded on these findings in a recent Quicktake post. According to their analysis, multiple indicators across futures markets, spot markets, and on-chain activity are signaling that the highly leveraged phase of the market may be coming to an end. They explained that as leverage unwinds and retail investors adjust their positions, longer-term capital is returning. Their analysis noted that one of CryptoQuant’s indicators tracking retail futures behavior has turned green, echoing patterns seen during previous market turning points.

Foundation for a Potential Rally Strengthens

Combined, these factors create a more constructive environment for Bitcoin Price. The alignment of reduced selling pressure, improving spot conditions, and a cleaner futures market often sets the stage for more sustainable upward movement. With Bitcoin stabilizing above key support zones and showing the ability to reclaim higher levels, analysts believe the market is recovering from earlier turbulence.

Looking ahead, traders are watching whether Bitcoin can maintain momentum above $93,000. A strong move beyond this level may validate the bullish case for revisiting $97,000. If Bitcoin can successfully clear the liquidity pocket near that target, the path toward $100,000 may become considerably more attainable.

For now, Bitcoin Price appears to be taking a meaningful step forward, supported by improving data and renewed confidence among traders and analysts.

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