Bitcoin Price Analysis: Why BTC Could Pull A Surprise Rally to $100k

Highlights:

• Bitcoin is back above $91k after a drop below $89,496; support failed
• Bear rejection points to the possibility that the bottom is in
• Changing sentiment in other risk-on assets could send Bitcoin to $100k

Bitcoin (BTC) is little changed today, an indicator that, after the recent correction, investors are not keen on buying. At the time of writing, Bitcoin was trading at $91,759, an increase of 0.46%. While the intraday price increase is negligible, volumes have started going up strongly after being in the negative earlier in the week. 

Intraday Bitcoin trading volumes are up by 6.01% to stand at $81.7 billion. This is an indicator that, even though cautious, investors are slowly coming back into Bitcoin. Such could be a precursor to a price rally that could send Bitcoin back above $100k. There are a couple of factors that support a possible Bitcoin rally back above $100k.

Market At Maximum Fear Could Lead to BTC Bullish Reversal

The first one is that the cryptocurrency market sentiment is currently at maximum fear. On CoinMarketCap sentiment tracker, sentiment is at 15, which is a state of extreme fear. It is usually in this state of extreme fear that smart money starts taking positions in assets. As such, smart money could start accumulating into Bitcoin, and as the price starts edging higher, retail FOMO could follow. There are clear pointers to this, such as the growing number of Bitcoin whales.

CRYPTO MARKET STILL IN FEAR

Even after #Bitcoin bounced from $88K, the Fear & Greed Index remains at 10 — deep in Extreme Fear.
Sentiment hasn’t recovered, and the market is still on edge.#Bitcoin #CryptoMarket #FearAndGreed #ExtremeFear pic.twitter.com/3GCZeZKooi

— Cicada Ventures (@CicadaVentures) November 20, 2025

Currently, Bitcoin addresses holding over 1000 BTC stand at record highs. More of these whales coming in could give Bitcoin a price floor around $90k and push the price back to $100k. The possibility of this happening is in Bitcoin’s price action in the last few days.

After a correction that saw it breach $90k, Bitcoin was quickly bid back up above $90k. It has since hit $91k and continues to make slow movements upwards. If these gradual moves push it back above $100k, retail confidence could return and push Bitcoin back to its all-time highs above $120k.

Stock Market In Rebound And Bitcoin Could Soon Follow

Bitcoin could also get support from a change in sentiment in the stock markets. Bitcoin has recently been in lockstep with major indices like the Nasdaq and the S&P 500. These indices, particularly the Nasdaq, have been heavily bearish in recent weeks.

However, like Bitcoin, they too are showing signs of a rebound. There are strong factors that point to a potential return of strong bullish momentum in the stock markets. One of them is the latest NVIDIA results that point to strong underlying demand for AI. If this triggers a rally that pushes stock indices to new all-time highs, the odds are high that Bitcoin could also rebound quite strongly.

NVIDIA CEO Jensen Huang on record Q3 FY26 results. pic.twitter.com/aq5ACwLTXQ

— NVIDIA Newsroom (@nvidianewsroom) November 19, 2025

That’s because, like the AI stocks that are leading the stock market rebounds, the underlying fundamentals for BTC are only getting stronger. Unlike in the past, when Bitcoin was an outlier, it is now a part of mainstream finance. Many institutions are also adding Bitcoin to their treasuries as part of their core assets. All this is likely to create long-term scarcity for an asset that has a low and capped supply. As such, a change in sentiment, especially now that Bitcoin is trading at a major support level, could send it to new highs. 

Technical Analysis – BTC Bears Rejected At Critical Support Level

Bitcoin bears have, in the last 24 hours, tried pushing the price through the $89,496 support. However, they have been sharply rejected, and Bitcoin is now trending towards the $96,526 resistance. A rally through this resistance could push Bitcoin back above $100k in the short term.

On the other hand, if there is another bearish wave, the key level to watch would be the $89,496 support. A crash through it with high volumes could send BTC to prices as low as $85k in the short term. Of these two scenarios, a rally back to $100k is more likely given that markets are operating at maximum fear already.