Bitcoin is poised for a new high, alts may welcome a new round of pump.
Recently, the easing of geopolitical tensions and the record highs in the US stock market have driven Bitcoin's net inflow to reach a new high last week, potentially starting a new upward trend and creating a historical peak. Last week, Bitcoin's increase exceeded 6%, indicating strong buying interest around the $100,000 mark. Bulls are working hard to maintain the price above $108,000 to consolidate their advantageous position.
However, it is worth noting that trading volume is usually low on weekends, so a cautious attitude should be maintained towards breakout trends. It is expected that sellers will re-enter the market on Monday and attempt to keep the price within the range of $100,000 to $111,980.
Bitcoin's strong performance has also driven some alts to rebound. If Bitcoin can set a new all-time high, some alts may attempt to break through the upper resistance level and continue the pump momentum.
Bitcoin technical analysis
Bitcoin is currently at the moving average line and the downtrend line.