Bitcoin Climbs Above $94K as Dormant Capital Fuels Bullish Momentum

Bitcoin (BTC) has surged from $84,000 to over $94,000 in the past week, reigniting bullish sentiment among investors. According to CryptoQuant, a leading on-chain data platform, Bitcoin has established $90,000 as a new support level, despite recent price volatility.

CryptoQuant’s analysis points to a sharp rebound in "apparent demand," a metric that measures buying interest based on one-year inactive supply. This shift saw negative demand of -200,000 BTC turn positive, signaling the return of dormant capital and a significant uptick in buying activity. The recent trend marks a turnaround from the heavy selling pressure and investor apathy seen earlier this month.

Bitcoin has consistently posted higher lows over the past seven days, maintaining a position above $90,000 for more than four consecutive days. Market sentiment remains positive, with Bitcoin consolidating above $94,000—a sign that it may be gearing up for another major rally. Technical indicators, including the Relative Strength Index (RSI), suggest further upside potential.

Adding to the optimism, Michael Saylor’s Strategy firm has resumed Bitcoin acquisitions, and Saylor himself celebrated Bitcoin's strength with the phrase, "Bitcoin is faster," likely referencing its outperformance against traditional assets.

As of now, Bitcoin trades at $94,367.04, reflecting a 0.76% gain over the past 24 hours. Trading volume has also risen by 14.76% to $35.46 billion, indicating strong market participation. If the momentum holds, Bitcoin could soon challenge the $95,000 mark and aim for new all-time highs.