Matrixport Eyes $106K Bitcoin Target If $95.6K Resistance Breaks

Bitcoin (BTC) is hovering just above $95,000, capping off an 8% gain over the past week. Now, the focus shifts to a key technical hurdle: $95,636. According to Matrixport, clearing this resistance could set the stage for a rally toward $106,000, fueled by growing ETF inflows and a surge in on-chain activity.

Matrixport had earlier flagged $85,712 as the breakout point from the broader downtrend — a call that’s played out as BTC steadily climbed to form new support near $94,465. But for sentiment to flip fully bullish, Bitcoin needs a strong daily close above $95,636 with convincing volume.

Several macro and market drivers are backing this bullish case:

• BlackRock ETF inflows strengthening the overall market structure

• Macro optimism tied to equity markets and easing tariff fears

• Stablecoin inflows pointing to fresh liquidity entering crypto

On-Chain Metrics and Analysts Back the Bullish Setup

Investor activity is ramping up too. Data from IntoTheBlock shows over 800,000 active Bitcoin addresses in a single day—a clear signal of rising user engagement.

Institutional and retail money is also flowing back in, with $3.4 billion poured into BTC and ETH products just last week.

Top crypto analyst Carl Moon projects that a sustained move above $95,000 could lift Bitcoin toward $104,000. While price targets vary slightly, the common view is that breaking $95,636 could ignite the next major rally.

Other bullish signals in play:

• RSI at 56, offering room for more upside without overheating

• Bitcoin holding above the 50-hour SMA at $94,465

• Higher lows forming along a rising trendline since April 28

Technical Setup: Compression Pattern Points to Breakout Potential

BTC’s price is squeezing between rising support and overhead resistance—a classic compression setup that often leads to a breakout.

Currently, Bitcoin trades around $95,147, just below the $95,636 pivot point. If bulls push through, short-term targets include $96,241 and $96,858, with $106,000 in sight if momentum stays strong.

However, failure to hold above $94,465 would weaken the ascending structure, exposing Bitcoin to downside levels at $94,022 and $93,488.

Trade Setup to Watch:

• Buy trigger: Daily close above $95,636

• Stop-loss: Below $94,465

• Upside targets: $96,241, $96,858, and $106,000

Volume is critical. Without strong confirmation, any breakout risks turning into a false move. Staying patient and waiting for clear confirmation will be key