Bitcoin (BTC) Is Trading at $104,600, Following Days of Significant Volatility and Market Uncertainty

The cryptocurrency has rebounded strongly, with bulls now firmly in control as BTC edges closer to setting a new all-time high above the $108,000 mark.

Bitcoin price experienced a brief downturn, crashing to $89,100 before staging an impressive comeback.

In less than six days, BTC surged over 18%, reaching a local high of $105,900 and reigniting bullish sentiment across the market.

Now, as Bitcoin approaches uncharted territory, market sentiment is turning positive and technical indicators are aligning, suggesting that BTC could soon break past its all-time high and enter price discovery.

Bitcoin price reached a critical milestone over the weekend, breaking above the $100,000 mark for the first time and signaling the potential for entering price discovery.

This pivotal move has sparked a wave of optimism among investors, many of whom now expect BTC to surge beyond its all-time high (ATH) in the coming days.

The cryptocurrency’s recent performance underscores its dominance and ability to lead the market during bullish cycles.

Top analyst Daan shared a technical analysis on X, highlighting Bitcoin’s strong market structure. According to Daan, BTC recently completed a clean retest of its prior yearly high—a critical resistance level that has now turned into solid support.

He noted that as long as BTC holds above the $102.7K level, the path to its ATH remains clear.

“Bitcoin looks good for a move to the all-time high next week,” Daan stated, emphasizing the importance of maintaining support at these levels.

Adding to the bullish sentiment is the broader macroeconomic backdrop. With President-elect Donald Trump set to assume office on Monday, expectations are growing for a pro-crypto administration that could further catalyze Bitcoin’s rally.

Many believe that regulatory clarity and institutional adoption under Trump’s leadership will provide an additional boost to BTC and the broader cryptocurrency market.

As BTC approaches price discovery, its ability to sustain momentum above $100K will be closely watched. Investors are eager to see how far the leading cryptocurrency can climb, with many predicting that the next leg up could usher in a transformative phase for Bitcoin.

With technical strength and bullish sentiment aligning, Bitcoin is poised to continue its ascent, making the coming days critical for its next major move.