It may now be the breakthrough of the resistance level in the BTC bull market: In technical analysis, breaking through key resistance levels like $103,000 is seen as a sign of the beginning of a bull market. This price level is regarded as an important psychological barrier.

Market Sentiment: Technical indicators such as moving averages, Relative Strength Index (RSI), etc., may show that the market is overbought or provide buy signals, further supporting bullish expectations.

Investor Psychology

HODLer Optimism: For long-term Bitcoin holders, known as 'HODLers', the upward price movement means an appreciation of their assets, which may ignite their optimism.

Market Volatility: In the early stages of a bull market, the market may experience frequent fluctuations, and investors need to respond cautiously to short-term price volatility.