Bitcoin (BTC) surged to a new all-time high of $123,236, marking a significant peak for the leading cryptocurrency. The price represents a 24-hour gain of 2.71%, fueled by sustained bullish market sentiment.
Despite the upward momentum, technical indicators suggest the possibility of a short-term correction. Analysts point towards a key support zone between $115,000 and $117,000 as a potential target if a pullback occurs.
The near-term market outlook anticipates Bitcoin trading sideways within the range of $115,000 to $120,000 in the coming weeks. Market participants largely view this expected consolidation as a healthy pause for the asset before potential further gains.
While investor sentiment remains broadly optimistic, market experts are advising caution due to potentially heightened short-term volatility. Investors are urged to factor in the increased risk associated with rapid price movements or corrections.
Other notable movements in the cryptocurrency markets include a significant whale transaction involving 20,000 BTC. Additionally, Hedera (HBAR) experienced a strong price surge of 24.7%, attributed to developments related to artificial intelligence partnerships.