The cryptocurrency market recorded a major shift in trend during this week. After a rather slow period over the last few weeks, Bitcoin (BTC) was moving above the $90,000 mark. The king coin was entangled in a rut that started in the month of March. This came as a major shock to the market as BTC began the year on a bullish note. The asset even went on to record an all-time high of $109,114.88. But Bitcoin failed to retain this momentum and came crashing down to a low of $74,436. This caused increased chaos in the market.

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Bitcoin Kickstarts Recovery Phase

During the past 24 hours, Bitcoin recorded a notable rise of 6.14%. This increase took the king coin from trading at a low of $88,255.83 all the way to a high of $94,459.61. At the time of writing, after encountering slight correction, BTC was priced at $93,906.98.

The asset’s latest rise further strengthens the possibility of BTC reclaiming the $100,000 mark. According to recent data brought to light by crypto analyst Ali Martinez, the BTC market was witnessing increased buying activity. In a recent post on X, Martinez revealed that a recent spike in purchasing pressure was shown by the Bitcoin net taker volume on Binance. This metric reached a new monthly high of about $62 million. Investors could be expecting a rise in the price of Bitcoin.

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Here’s When The King Coin Might Reclaim $100K

According to data from CoinCodex, the world’s largest cryptocurrency could be hitting $100,000 sooner rather than later. The firm revealed that the asset might trade at a high of $102,967 on April 26. Bitcoin will record a massive spike of 10% during this period.

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