Bitcoin may be starting a rally... "If it breaks above $95,000, $100,000 is also possible"

An analysis says Bitcoin (BTC) is attempting to break above $90,000. Attention is focused on whether the largest options contract expiration in history on that day could act as upward pressure.

On the 26th (Korean time), according to the digital asset media Cointelegraph, Bitcoin showed gains that day, and multiple analysts suggested that a Bitcoin bull market could be approaching.

BitBull said on X (formerly Twitter), "As the large options expirations complete, the hedging pressure that had suppressed the price is disappearing," adding, "After that, the price can move according to actual positions."

Another analyst, Michael van de Poppe, said, "Most commodity markets are currently on the verge of a correction. Tech stocks likewise soared this year," and argued, "January is a time when asset managers rebalance assets. Bitcoin is worth watching."

Meanwhile, the turning point for further upside is expected to be $95,000. Crypto Ideology said, "Daily closing prices are important to determine a bull market," adding, "If a definite breakout occurs, there is the possibility of rising to $95,000, and this point will be the real test, and there is also the possibility of a rise to $100,000, near the 50-day moving average."