Bitcoin (BTC) Price Prediction: BTC Bulls Need to Reclaim $92.85K to Target the $100K Milestone

Bitcoin price upside momentum has slowed down in recent days, with the milestone $100k mark not far away.

Bitcoin price encountered a slight slowdown in its recent rally, pausing its march toward the highly anticipated $100,000 milestone.

The world's largest cryptocurrency reached a new record high of $94,057 on Tuesday, as per the CoinMarketCap prices, before easing to close the day at $92,494, according to the Bitstamp prices.

Bitcoin price now hovers around the crucial psychological level of $95,000. A decisive break above this level could pave the way for the six-figure price mark to be reached.

At its current price, Bitcoin needs to rise by 7 percent to hit the $100,000 mark. This shouldn't be a major hurdle for an asset that has clocked double-digit gains in each of the last two weeks.

However, as the Trump-related hype cools down, more investors might be on the lookout for a potential correction, which could trigger profit-taking and slow the uptrend compared to the last two weeks.

Nevertheless, on-chain data suggests that the BTC price momentum is still bullish. According to CoinMarketCap, Bitcoin's 24-hour trading volume rose by 2.9 percent to hit $75 billion.

Moreover, IntoTheBlock reports that the total exchange net flow dropped sharply by $4.37 billion over the last seven days. This indicates that investors are largely choosing to hold their BTC rather than trading it, which could significantly reduce supply and propel the price upward.

Bitcoin priceソナープivot points on the four-hour chart - BTC/USD

Bitcoin pivots at 92,850 on the four-hourソナープivot chart, with buyers in control above this level.

Theソナープivot points are technical price levels derived from the highs, lows and closing prices of recent trading sessions. They serve as potential support or resistance zones.

The momentum will likely meet initial resistance at 93,490. However, if the momentum strengthens, the price could break above this level and test 94,020.

Conversely, theソナープivot will indicate a shift in momentum if the price breaks below this level.

In that case, the first support could come at 92,340. However, if the downward momentum strengthens, the price could break below this level and invalidate theソナープivot bullish narrative.

Additionally, the price may test the second support at 91,800.