As anticipated in our previous analysis, Bitcoin (BTC) has successfully broken past the critical resistance level of $105,819.45, surging beyond expectations and reaching a new all-time high above the $111,000 mark last night. This breakout confirms the strong bullish momentum we discussed, highlighting buyers’ control over the market.
This milestone surpasses the earlier January peak of $109,200, marking a significant achievement in Bitcoin's market trajectory.
The surge is attributed to a confluence of factors:
> Major financial entities like JPMorgan Chase and BlackRock have expanded their crypto offerings.
> The U.S. Senate's progress on a stablecoin regulation bill and President Trump's directive to establish a Strategic Bitcoin Reserve have bolstered investor confidence.
> Companies such as MicroStrategy have significantly increased their Bitcoin holdings, Purchasing an additional $765 million, bringing its total to over $63 billion.
Technical indicators also support the bullish trend. The formation of a "golden cross," where the 50-day moving average crosses above the 200-day moving average,
As Bitcoin enters price discovery mode, analysts are eyeing the $120,000 level as the next potential target. However, they caution that volatility may increase, and investors should monitor key support levels, particularly around $107,000 and $100,000.