Bitcoin flourishes again, challenges global total economic turmoil and pushing an unknown area. Earlier this week, the largest cryptocurrency in the world reached the highest new level of $ 112,000, which enhances the investor optimism and indicated that the bull’s direction is still sound. With fears of inflation, high interest rates and geopolitical tensions, the role of Bitcoin continues as a flexible digital asset in attracting capital.
However, while BTC reaches new levels, the broader Altcoin market tells a different story. Supreme analyst Daan participated in a major technical note, noting that the total maximum Altcoin market is still far from its peak 2021. Despite the recent recovers, Altcoins remains much lower than its highest levels ever. This difference highlights a frequent theme for this course – Pitcoin dominance.
Dan noted that the performance of the Altcoin market stems from its failure to break the main horizontal resistance area. Until this level is penetrated convincingly, Altcoins may continue to track behind Bitcoin explosive movements. Currently, BTC is still a clear pioneer in the market, and many believe that Altseason will not completely ignite it until Bitcoin is integrated and the capital begins to rotate more aggressively into alternative assets. Investors closely monitor the signs of this shift.
Bitcoin finds support below, while Altcoins struggle to catch up with knees
After reaching the highest new level ever near 112,000 dollars, Bitcoin has declined a little, and now trading at a level of $ 107,000 as Bulls tries to create short -term support. The move comes amid the constant uncertainty of the macroeconomic economy, including the escalating trade tensions and the constantly high US Treasury revenues that continue to cram the traditional markets. Despite the decline, the upward upward feelings are still strong, as many investors view a decline as a healthy correction within the broader upward trend.
Dan indicates A decisive difference between bitcoin and the broader encryption market. Although BTC rose to a new area, the total ceiling of the Altcoin market remains less than 30 % less than its highest level ever in 2021. This highlights the clear power of bitcoin in this session compared to Altcoins, which continues to delay despite the recent repercussions.
Daan’s technical analysis emphasizes the importance of the main horizontal resistance level on the total chart. Until this threshold is broken, Altcoins may continue to perform weak for Bitcoin. The strength and momentum of BTC has constantly exceeded the rest of the market throughout this tournament, and unless a structural shift, this trend may continue.
Weekly graph analysis
Bitcoin’s weekly chart shows a decisive interruption above its highest level at $ 109,000, confirming the strength of the continuous upward trend. BTC has reached up to $ 112,000 before facing the resistance and is now reinforcing about 107,500 dollars. This level is closely consistent with the penetration area, which transforms the previous resistance into a potential support area – preparing a classic bullish re -test.
The candle structure shows a strong upward momentum with a large size, which is valid for the penetration. BTC continues to trade over EMA for 34 weeks ($ 87,938), which served as dynamic support during this upward trend. All major moving averages (50, 100 and 200 weeks) go to the top, which enhances the long -term bullish structure.
It is worth noting that the weekly closure will be very important. The contract of more than 103,600 dollars confirms the penetration and can lead to the renewal of the purchase interest, which may lead to a payment of between 120 thousand dollars and 125 thousand dollars. If the current level fails to keep it, BTC can re -test the previous range between 95 thousand dollars and 100 thousand dollars for support.
In general, the trend remains optimistic about the upper timeline, and despite the short -term fluctuations, the Bitcoin structure indicates its continuation towards new levels, with the support of strong macro winds and strong standards on the chain.
Distinctive image from Dall-E, the tradingView graph
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