$BTC It sounds like you're closely following the developments in the Bitcoin ($BTC) market! Let's take a look at the current situation and how it aligns with your observations.

Current Bitcoin Market Overview:

Current Price: Approximately $105,274.60

24-Hour Change: -5% from the previous price of $108,364.21

Market Cap: About $2.09 trillion

24-Hour Trading Volume: Around $69.45 billion

Key Points:

Market Confidence: The price hovering around the $100,000 mark indeed reflects strong market confidence, bolstered by institutional accumulation and regulatory easing.

Hashrate: The hashrate being near all-time highs is a positive indicator of miner confidence, suggesting that miners are optimistic about future price movements.

Technical Analysis: The formation of an ascending triangle is a bullish sign, but as you mentioned, traders should be cautious of potential fakeouts near resistance levels.

Digital Gold: Bitcoin's status as "digital gold" is particularly relevant in the current economic climate, where inflation and geopolitical tensions are influencing traditional markets.

Considerations:

Keep an eye on volume trends and market sentiment, as these can provide insights into the sustainability of any breakout.

Monitoring news related to institutional investments and regulatory changes will also be crucial in shaping market dynamics.

How do you feel about the potential breakout? Are there specific indicators or events you're watching that could impact your trading strategy?