CoinVoice recently learned that, according to The Block, Bitcoin is currently about 4.5% lower than its historical high of $108,786 in January. Vincent Liu, Chief Information Officer of Kronos Research, stated: "Bitcoin is currently hovering near its historical high, with strong technical momentum supporting its breakout above the 50-day and 200-day moving averages. The increasing number of institutional investors and optimistic expectations for 2025 indicate that Bitcoin is likely to set new historical highs."
However, another analyst pointed out that Bitcoin's Relative Strength Index (RSI) indicates that the cryptocurrency is in the "overbought" zone. BTC Markets analyst Rachael Lucas stated: "This does not necessarily signal an immediate reversal in the market, but it does increase the likelihood of a cooldown or sideways consolidation in the short term. A retest and consolidation above the key psychological level of $100,000 would be a healthy development and could lay the foundation for further gains."
Presto research analyst Min Jung stated: "The recent rise in the cryptocurrency market has been driven by the market's optimism regarding the rekindling of trade negotiations between China and the United States. As Bitcoin's dominance reaches levels seen before the 2021 bull market, we are currently experiencing a typical rotation - capital is beginning to flow into altcoins."
Presto analyst added that the likelihood of Bitcoin breaking through its previous historical high may depend on how trade negotiations develop, while other escalating geopolitical tensions remain a key variable. [Original link]
