Bitcoin is buying and selling above the $104,000 stage after posting its second-highest weekly shut in historical past, reinforcing the energy of the present uptrend. The bullish momentum has been constructing steadily over the previous few weeks, with worth surging aggressively after reclaiming each the $90K and $100K psychological ranges. This marks a major shift in sentiment after months of consolidation and market hesitation.
In accordance with knowledge from CryptoQuant, the Concern and Greed Index has began to rise considerably, reflecting rising optimism amongst Bitcoin traders. Whereas sentiment is clearly leaning bullish, the index nonetheless stays nicely under the euphoric “overload” zone, suggesting there’s extra room for upside earlier than reaching overheated situations.
This mixture of sturdy worth motion and managed sentiment may point out a sustainable rally relatively than a speculative blow-off. As Bitcoin holds above key resistance zones, analysts and traders are starting to concentrate on the all-time excessive close to $109K as the subsequent main goal. The current transfer has additionally energized the broader crypto market, with altcoins gaining energy alongside Bitcoin. As momentum builds, the market seems poised to enter a brand new section of enlargement, fueled by renewed confidence and capital inflows.
Momentum Builds As Bitcoin Eyes $109K All-Time Excessive
Bitcoin is coming into a important week as bulls set their sights on the $109,000 all-time excessive. After months of heavy promoting strain and widespread market doubt, the main cryptocurrency has surged again into the highlight, buying and selling slightly below the $105,000 mark. This stage now acts as rapid resistance and will grow to be a serious pivot within the coming classes. If bulls handle to push by this barrier, a breakout into uncharted territory could be imminent. Nonetheless, if promoting strain intensifies round this zone, Bitcoin may face a interval of consolidation or retracement earlier than making one other try.
Market sentiment has notably improved, as highlighted by prime analyst Axel Adler. In accordance with Adler’s insights, the present common values of the Concern and Greed Index are climbing steadily, signaling an increase in investor confidence. Importantly, the index stays removed from excessive greed territory, which means that optimism is constructing however not but overheated — a constructive signal for a sustainable rally.
Additional fueling the constructive outlook are macro developments. Sunday’s negotiations between Washington and Beijing introduced a way of reduction to world markets, contributing to the broader upswing. With geopolitical tensions easing and Bitcoin holding its floor close to multi-month highs, the setup for an additional leg greater is taking form.
BTC Faces A Important Check Close to All-Time Highs
Bitcoin is buying and selling above $104,000, following the second-highest weekly shut in its historical past. After reclaiming the $90K stage in late April, the value surged aggressively and now hovers slightly below the all-time excessive (ATH) zone. This weekly chart reveals clear momentum, with BTC pushing by key resistance zones with excessive quantity and conviction. Nonetheless, worth is now straight testing the identical vary that marked the highest earlier this yr—between $104K and $105.7K.
This zone is essential. If bulls can push above this stage and shut the weekly candle close to or above the present all-time excessive, it will doubtless verify the long-term uptrend. Such a breakout would put BTC in worth discovery, doubtlessly triggering momentum-driven shopping for and institutional inflows. Then again, if Bitcoin stalls or retraces from right here, it may sign a short-term exhaustion and probably a correction towards the $100K–$103K assist zone.
Quantity tendencies and market sentiment stay favorable, particularly with declining alternate balances and rising investor optimism. Nonetheless, a confirmed weekly breakout above the ATH stays the final word affirmation for the subsequent macro leg up. All eyes are actually on whether or not BTC could make historical past with a brand new all-time excessive this week.
Featured picture from Dall-E, chart from TradingView
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