Bitcoin’s Next Target: $95K, While SUI Keeps Climbing in a Multiday Surge

Bitcoin Call Options Surge as $95K Target Gains Traction; SUI Continues Strong Momentum

Bitcoin (BTC) showed minimal movement over the past 24 hours as markets settled following earlier volatility, with traders eyeing short-term gains. As of Friday morning in Asia, Bitcoin was holding steady above $93,000, and optimism about further price increases remained high.

“BTC’s firm position above $90K is fueling growing market optimism,” QCP Capital noted in a Telegram update. “Call options at the $95K strike for both end-April and end-May expirations have seen the most activity, signaling a tactical interest in additional upside.”

Call options grant traders the right, but not the obligation, to purchase Bitcoin at a set price before a specific deadline. A surge in buying these options at the $95,000 strike indicates traders are betting Bitcoin will surpass this price in the coming weeks, a sign that retail traders are poised for a potential bullish breakout.

“Despite subdued macro risks and a cooling of trade tensions, we expect BTC to trade in a tight range between $90K and $94.5K while waiting for a clear move toward the sought-after $100K level,” QCP added, maintaining a cautious outlook as the market is still heavily influenced by macroeconomic factors.

Among other major cryptocurrencies, XRP and BNB (BNB Chain) remained flat, while Solana’s SOL posted a modest 2% gain. Dogecoin (DOGE) and Cardano (ADA) saw a significant uptick of more than 4%, and Shiba Inu (SHIB) gained 5%. The CoinDesk 20, an index tracking the top 20 cryptocurrencies by market cap, increased by 1.2%.

On the other hand, Sui Network’s SUI token continued its impressive upward trajectory, posting a weekly increase of over 62%. A key catalyst for this rally is the launch of xPortal, a new payment card integrated with the Mastercard network.

Sui Network also saw significant growth in its decentralized finance (DeFi) ecosystem. The total value locked (TVL) in the network exceeded $1.6 billion, up 9% in the past 24 hours. Additionally, its decentralized exchange (DEX) recorded 24-hour trading volume of $599 million, reflecting a 35% week-over-week growth.