Bitcoin Traders Push for $95K Soon, While SUI’s Rally Shows No Signs of Slowing

Bitcoin Looks to $95K; SUI Records Major Gains as Momentum Builds

Crypto markets remained relatively stable in the last 24 hours following a strong rally earlier in the week, as traders took profits and recalibrated their positions. Bitcoin (BTC) held steady above $93,000 during Asian trading hours on Friday, with many market participants eyeing the potential for further gains in the short-term.

“BTC’s ability to maintain levels above $90K is fostering a positive sentiment in the market,” QCP Capital shared in a Telegram update. “Call options with a $95K strike for the April and May expiries have seen significant demand, reflecting tactical interest in seeing Bitcoin push higher in the near term.”

A surge in call option activity at the $95,000 strike price signals that traders are betting on Bitcoin surpassing this threshold by the end of April or May. These options provide traders with the right to purchase Bitcoin at a predetermined price before the options expire, suggesting a growing sense of optimism for the near future.

“With macroeconomic risks appearing temporarily subdued and geopolitical tensions cooling, we expect BTC to remain within a narrow trading range of $90K to $94.5K until a breakout toward $100K becomes more likely,” QCP analysts added, maintaining a cautious yet positive outlook amid ongoing uncertainty in the broader market.

As for other major cryptocurrencies, XRP and BNB (BNB Chain) saw little movement, while Solana’s SOL saw a modest 2% increase. Dogecoin (DOGE) and Cardano (ADA) both jumped more than 4%, while Shiba Inu (SHIB) gained 5%. The CoinDesk 20 index, tracking the top 20 cryptocurrencies by market cap, rose by 1.2%.

Sui Network’s SUI token continued to impress, extending its multiday rally and posting a 62% increase in weekly gains. A major catalyst behind the continued surge is the launch of xPortal, a new Mastercard-integrated payment card from the ecosystem.

Sui’s DeFi space also showed significant progress, with the total value locked (TVL) on the network surpassing $1.6 billion, a 9% increase in just 24 hours. Additionally, the Sui Network’s decentralized exchange (DEX) saw impressive trading volumes, reaching $599 million over 24 hours—an impressive 35% increase from the previous week.