Bitcoin Price Prediction: BTC/USD Bulls Eye $100k Retest as Risk-off Sentiment Strengthens

Bitcoin price rose for the third successive day on Friday, gaining 1.1% to trade at $99,187 at the time of writing.

Bitcoin price continued its rally for the third day in a row on Friday, rising 1.1% to trade at $99,187 at the time of writing.

The gain in Bitcoin price comes after US President Donald Trump expressed willingness to negotiate a solution to the tariff war with his Chinese counterpart, Xi Jinping, in a statement earlier this week.

This statement has helped ease investment jitters and build appetite for high-risk assets like cryptocurrencies. However, the upside in Bitcoin price is expected to be limited by the Federal Reserve’s hawkish stance.

The central bank is concerned that the US inflation rate is not sustainably on a downtrend, necessitating the need to keep interest rate higher for longer. This could see safer assets like US treasuries offer competitive returns relative to Bitcoin, in addition to keeping US dollar value on the ascent.

Nonetheless, a third successive daily gain by BTC augurs well for the market sentiment. That could be strengthened further if the crypto coin retests the $100k mark during the weekend. The absence of high-impact US macroeconomic data on Friday raises that prospect significantly.

There is also strong institutional interest in Bitcoin, which is adding propulsion to the price upside. For instance, Bitwise made a $24.1 million spot Bitcoin ETF purchase on Friday.

Meanwhile, BTC trading volume was up by 22% in the last 24 hours, signaling investors’ willingness to buy the product despite elevated price. This underlines growing bullishness around the asset.

Bitcoin Price Prediction

The momentum on Bitcoin price favours the continuation of the upside above $98,600. Immediate hurdle is likely to be at $99, 5500. The upward momentum will strengthen if the coin breaks above that level, potentially clearing the path to test the second resistance at $100,100.

Conversely, action below $98,600 will favour the sellers to take control. In that case, the BTC price trajectory is likely to go to the first support at $97,900. A break below that level will invalidate the upside and potential test the second support at $97,400.