Assessment of Bitcoin's Value: Will There Be a Brief Pullback Following the Latest Increase?

Bitcoin has once again surpassed key resistance areas, extending its bullish momentum. After several attempts to reclaim previous highs, the market has finally shifted, with bulls regaining control due to an improved sentiment and strong technical structure. The daily chart shows a convincing breakout, with the price breaking through the $100K resistance zone and rallying towards the $110K mark.

The 4-hour chart reveals a rising channel structure which guided the price into the $108K all-time high region. On-chain data shows a resurgence in active addresses, indicating renewed retail and institutional interest. Despite Bitcoin being well-positioned to continue its rally, short-term pullbacks are possible given the extended RSI on higher timeframes.

The $108K level remains critical for the bulls to defend to avoid a deeper correction.