Odaily Planet Daily News Bitcoin is currently about 4.5% below its all-time high of $108,786 in January. Vincent Liu, chief information officer of Kronos Research, said: "Bitcoin is currently hovering near its all-time high, and strong technical momentum supports its breakthrough of the 50-day and 200-day moving averages. The increasing number of institutional investors and optimistic expectations for the outlook for 2025 indicate that Bitcoin is expected to hit new all-time highs." However, another analyst pointed out that Bitcoin's relative strength index (RSI) shows that the cryptocurrency is in the "overbought" area. BTC Markets analyst Rachael Lucas said: "This does not necessarily indicate an immediate market reversal, but it does increase the likelihood of a cooling or sideways movement in the short term. A retest and consolidation above the key psychological level of $100,000 would be a healthy development and could set the stage for further gains."
Presto research analyst Min Jung said: "The recent rise in the cryptocurrency market has been driven by renewed optimism about the US-China trade negotiations. With Bitcoin's dominance reaching levels before the 2021 bull run, we are now experiencing a classic rotation - capital is beginning to flow into altcoins."
Presto analysts added that the possibility of Bitcoin breaking through previous all-time highs may depend on how trade negotiations develop, while other escalating geopolitical tensions remain a key variable. (The Block)