Bitcoin recently hit a new all-time high of $111,999, fueled by optimism over potential Fed rate cuts and pro-crypto legislation like the CLARITY Act. As a result, $BTC dominance has surged to 65.38%, testing the same resistance level seen in 2020 before a major breakout.
Historically, a break above this level led to a sharp rise in both BTC dominance and price, suggesting a possible move to $124,000. However, #Bitcoin is also facing strong resistance, and past patterns hint at a potential pullback to around $107,000.
Technical indicators remain mixed, but bullish momentum persists, with an RSI of 62 and upside potential to $135,000 if BTC breaks resistance. The next move depends on whether buyers can sustain momentum at these elevated levels.
