Bitcoin's bullish trend is currently showing strong signs, with the cryptocurrency hitting a new all-time high above $109,800 recently. This milestone marks a 47% rise from its low below $75,000 on April 7. The current price of Bitcoin is around $110,701.61, with a 3.50% increase in the last 24 hours.

Several factors are contributing to this bullish trend ¹ ²:

- *Increased Institutional Demand*: US spot Bitcoin ETF investors have triggered net inflows of $7.4 billion in the past five weeks, indicating growing institutional interest.

- *Positive Market Sentiment*: The entire crypto market is showing bullish signs, with top altcoins like Ethereum, XRP, and Solana also seeing gains.

- *Technical Indicators*: The Relative Strength Index (RSI) and Stochastic Oscillator are in their overbought regions, indicating strong bullish momentum. However, traders should be cautious due to the high chances of a pullback.

Some experts predict that Bitcoin could continue its upward trend, with potential targets including ¹ ³:

- *$112,000*: A key resistance level that Bitcoin needs to break through to continue its rally.

- *$115,000*: A potential target if Bitcoin continues its upward momentum.

- *$120,000*: A major psychological milestone that Bitcoin is expected to reach in the near future.

However, others warn of a potential correction, citing ⁴:

- *Overbought Conditions*: Bitcoin's RSI and MACD have generated bearish divergences, indicating a possible short-term price decrease.

- *Potential Support Levels*: $109,000, $107,500, and $105,000 are key support levels to watch in case of a pullback.