$BTC Bitcoin is demonstrating remarkable resilience, holding strong just below its all-time high despite a recent pullback that saw its price settle around $107,000 after briefly touching $112,000. This minor correction is viewed by many investors as a healthy consolidation within an overarching bullish trend, even as conventional financial markets contend with rising trade tensions and elevated US Treasury rates.

However, a notable divergence persists between Bitcoin's performance and that of the broader altcoin market. While BTC has surged, the total altcoin market capitalization remains over 30% below its 2021 highs, indicating that altcoins are still playing a significant game of catch-up in this cycle. Expert analysis suggests that Bitcoin's current outperformance may continue until a crucial horizontal resistance level on the TOTAL Altcoin Market Cap chart is definitively breached, signaling a fundamental shift in market dynamics.

From a technical standpoint, Bitcoin's weekly chart paints a compelling bullish picture. The recent break above its previous all-time high of $109,000 has been confirmed, with the subsequent stabilization around $107,500 acting as a bullish retest, transforming prior resistance into new support. This breakout is further reinforced by a strong bullish candle structure and robust trading volume. Critically, BTC continues to trade above its 34-week Exponential Moving Average (EMA) of approximately $87,938, a level that has consistently provided support throughout this macro rally. The upward trajectory of all major moving averages (50, 100, and 200 weeks) further bolsters the long-term bullish outlook.

The upcoming weekly close will be pivotal. If Bitcoin can maintain its position above $103,600, it would validate the breakthrough, potentially reigniting buying interest and propelling prices towards the $120,000 to $125,000 range. Conversely, a failure to hold the current support could lead to a retest of the $95,000 to $100,000 levels.