Bitcoin (BTC) continues its bullish momentum, climbing over 1.1% in Monday’s Asian session and touching $93,000, signaling the longest winning streak since October. BTC to PKR also shows upward movement as investors eye a possible surge toward six-figure levels. However, market experts warn that this rally could be the last before a deeper correction.
Crypto analyst Doctor Profit observed that Bitcoin has broken above the so-called “Silver Line”, a short-term resistance level that had rejected price advances five times previously. “This breakout followed by a bullish retest indicates BTC is ready for a further move higher,” he noted. Doctor Profit expects BTC to potentially reach $97,000–$107,000 before resuming a broader downward trend.
Despite the near-term upside, he remains bearish overall, forecasting prices below $70,000 in the coming months. Macroeconomic factors, including the Federal Reserve’s $106 billion overnight repo lending on New Year’s Day and changes in liquidity access rules, point to financial system stress, which historically coincides with bear markets.
Market commentator Mr Wall Street also highlighted the risk of a broader global shock impacting BTC. He suggested that any near term rally may be temporary, serving primarily to build liquidity amidst geopolitical tensions and macroeconomic uncertainty.
Investors monitoring BTC to PKR movements should remain cautious as the market may experience significant volatility before stabilizing.
