$114K+ Bitcoin Surge: BTC on track for All-Time High! 🚀

$BTC @CZ#Binance

BTC

114,928.2

+3.21%

Bitcoin continues its momentum, trading at $114,931, up 2.76% in the last 24 hours. Market activity is at a high with $43.1 billion in trading volume.

Why the surge?

Huge institutional interest: Giants like BlackRock and MicroStrategy are holding huge amounts of BTC.

Traditional finance consolidation: JPMorgan now lets clients use Bitcoin and Ethereum as collateral for loans.

US Fed rate cut expectations: ~98% chance of a 0.25% rate cut on October 29 has boosted sentiment towards risk assets.

Technical Analysis and Strategy:

Immediate resistance: At $115,000. If it breaks, the next target is $118,000 to $123,000.

Key support: $112,000 and a strong floor at $109,000 (200-day moving average).

RSI: At 63, indicating strong momentum but not yet overbought.

Risk management: There is a risk of liquidation due to the high leverage of whales. It is very important to set a stop-loss below $109,000.

Do you think BTC will break the ATH of $126,200 soon? Let us know in the comments! 👇