Bitcoin may rise to $95,894, analyst makes bold prediction

The recent price rally seen across the crypto community has been interrupted by another short-term volatility, holding Bitcoin back from a chance to make a major price recovery.

While it will eventually return to $70,000, traders are still optimistic about its possible recovery to the key $100,000 level. However, popular crypto analyst Ali Martinez shared information revealing the possibility of Bitcoin to recover the original level near this threshold.

Bitcoin at $95,000, how soon?

On Saturday, March 14, Martinez shared data that suggests Bitcoin could be poised for a major price rally if it breaks above a certain resistance level on the chain.

The resistance level was determined by the MVRV (Market Value to Realized Value) pricing model chart of Glassnode displayed by the analyst. It showed that Bitcoin is currently trading at an important level around $73,726.

Although this measure is widely used by analysts to determine whether Bitcoin is overvalued or undervalued relative to historical trends, it currently indicates that a retracement of the $73,726 level could keep Bitcoin on the path to an explosive price rise.

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According to the analyst, if Bitcoin successfully clears the $73,726 resistance level, another important price zone highlighted by the model is near $95,894.

Bitcoin returns to $70,000

While the metric looks promising, it is unclear how far the asset can clear the $73,726 resistance level. Bitcoin recently turned negative and reached around $70.0000, a level well below the critical threshold.

However, the analyst noted that a decisive break above the $73,000 zone could signal a strengthening of the bullish momentum and potentially attract new buying pressure from both retail and institutional investors.

On the other hand, a failure to recover the level could keep Bitcoin consolidating in the lower MVRV bands until stronger demand returns.