"Why is BTC so difficult to break through $25,000?"
Since the macroeconomic situation is recovering and the Federal Reserve (Fed) of the United States (US) reduced interest rate hikes, the price of the king of cryptocurrency Bitcoin (BTC) started to soar high but still could not pass over $25,000.
Since Thursday last week, the price of BTC tried several times to break through the $25,000 level but still failed.
Even so, BTC's performance is still seen as positive following an increase of 14% over the last week and 9.6% in the past 30 days.
According to data from crypto market research company Deribit Insights, most investors are interested in buying BTC while its price is in the $26,000 to $30,000 zone, where now its strong resistance level is at $25,000.
Investors are also predicting that the digital asset will climb to a price range of $25,000 to $30,000 on February 24, 2023 as its market capitalization marks a new one-month high of $479 billion.
From a technical analysis (TA) perspective, BTC price has the potential to surge higher in the near term if it succeeds in breaking through the most active resistance level between $25,000 to $25,500 but the opposite will happen if it fails.
In the meantime, BTC is tipped to end the bearish market and see new yearly highs or climb to the $27,000 zone if the digital asset can break above the aforementioned resistance levels.
As of this writing, BTC price has surged by 1.75% at $24,844 in the last 24 hours with a trading volume of around $28 billion.
