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Bitcoin (BTC) has formed a bullish flag pattern on its daily chart, a technical setup that suggests the recent rally could continue toward $100,000 if price breaks above $80,000.
The development raises the question of whether institutional accumulation is sufficient to sustain this upward momentum despite hawkish signals from the Federal Reserve.
The cryptocurrency has reduced its yearly losses to 11%, a performance attributed in part to renewed trader interest following the U.S. Securities and Exchange Commission's approval of the industry.
While initial market euphoria has moderated, the sector's reaction to regulatory clarity may have ended the bearish cycle for the leading digital asset.
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