Will Bitcoin (BTC) Hit $100,000 This Week? 136% PEPE Rally Stuns, and Ethereum (ETH) Set for Another Surge

Many have been euphoric over the price surge of Bitcoin BTC to $91,000, which has even led some to believe that it will soon touch the $100,000 mark.

Growth in the digital currency has been due to the following: emergence of great huge institutional interest, increased retail participation, and overall optimism in the market.

Currency and stock traders and investors are glued to the key support and resistance points in order to find out if the bitcoin price was going to continue rising or correct itself.

Bitcoin recently broke through critical resistance levels at $75,000 and $85,000 levels, thus making it clearly fall into the category of a bullish uptrend.

On its daily chart, Bitcoin price has been manifesting an upward trend while following through the growth of massive volume spikes coupled with breaking out from being in a consolidation stage.

This technical pattern is a sign that the cryptocurrency will continue to grow even further while the barrier set at $100,000 becomes a psychological barrier.

Again, the $100,000 level is not only technically important but also a psychological one as far as the investor is concerned. If it breaks above this, it opens up a lot of attraction among buyers, thus setting it up for a higher push in terms of price.

The Bitcoin price needs a support base between $88,000 and $90,000 if it is to maintain its ascending trend. A temporary downturn to these levels would not halt the bull run and could act as a solid base for further bullish runs.

The fall below this zone may mark a significant slowdown in the bullish pace and, even worse, may open up the way to an outright correction downwards, with $75,000 potentially acting as a stronger support level.

Therefore, the possibility that Bitcoin can go for a $100,000 mark in this week is very high although it is swimming on its crest of momentum and demand.

This price can be achieved unless market conditions remain favorable and there is enough buying pressure.

However, the market operates on utmost fluctuation, so one must also consider profit-taking in such elevated levels, which can cause volatility or a temporary pullback.

Interestingly, the meme coin has gained substantial attention after a 136% price appreciation; it is making bigger waves in the crypto space than people originally expected.

Determined by internet meme, the rise of PEPE is also revealing a measure of resilience and staying power connected with the meme coin market that some regarded as lacking.

While some were first dismissed as ‘internet jokes,’ such as PEPE and others, they are now adding considerable value with decent interest from many investors.

The current surge in PEPE has been crystal clear in direction, with the coin breaking through major resistance and peaking at new all-time highs.

At the back of trading volumes, it shows there is still demand for PEPE. However, being overbought in the RSI can send the token resistance or correcting short term, especially for the market participants, who will start taking profits.

It has also been positive for the greater meme coin market as PEPE’s popularity has supported rallies in assets like Dogecoin and Shiba Inu.

PEPE’s success reignited interest in these meme tokens, as investors appear willing to place bets on volatile and speculative assets.

The reasons for this may be a little skewed in the light of major gains from bigger cryptocurrencies like Bitcoin and Ethereum who have attracted investors wishing to seize the economic boom of meme coins.

Surging large transactions could point to higher trading volumes and increased whale interest in the meme coin market.

This is further complemented by the fact that a fast rally of 136% in PEPE underlines the emergence of meme coins as a more serious and influential participant in the greater cryptocurrency space.

This said demand for meme tokens such as PEPE reflects the shift in investors’ behavior, which now opine that the most speculative of assets can still garner attention and massive financial backing.

The strong institutional interest continues to be positive in the market, and it remains possible that Bitcoin breaks through this level of $100,000 as it has surged at $91,000.

In fact, traders are watching support levels closely, particularly the range of $88,000 to $90,000, where it’s yet to be seen if Bitcoin will eventually break up strongly. The surprising strength in the meme coin market did tell tales as PEPE rallies 136%.

Every retail investor has grown a keen interest, as do the institutions. The overall trend here suggests that meme coins are actually becoming a more important part of the cryptocurrency space. However, it may experience short-term resistance or pullback.