Bitcoin reached a record high near $19,500, demonstrating robust bullish momentum amid volatile market conditions. Key support solidified around $115,000, accompanied by significant liquidation activity affecting over 95,000 traders and resulting in a record single-position loss exceeding $1.49 million.
Technical analysis highlights $119,000-$120,000 as critical resistance levels for Bitcoin to breach to sustain upward momentum. Success beyond this threshold could propel BTC toward the $135,000-$140,000 range. Market patterns mirror late-2024 trends, suggesting potential for a 50% price rally should bullish sentiment persist.
Institutional inflows and anticipated catalysts like the US ‘Crypto Week’ remain pivotal in reinforcing Bitcoin’s growth trajectory. Combined with technical indicators, these factors underscore continued optimism for the cryptocurrency’s near-term performance.