Bitcoin (BTC) has risen by more than 6% this week, proving strong buying pressure near $100,000 (approximately $139 million). The current price is above $108,000 (approximately $150.12 million), continuing its strong trend, which indicates an attempt to break through the weekly closing high of $109,000 (approximately $151.51 million).
Crypto trader and analyst Rekt Capital posted on X (formerly Twitter) that if Bitcoin achieves its highest weekly close, it could "set a historic record and potentially start a bull run towards a new all-time high". Market expectations are growing that if the technical breakpoint is crossed, psychological resistance levels could also be broken.
However, market experts caution that the breakthrough should be interpreted carefully due to decreased market liquidity over the weekend. They point out that this rise could be a temporary phenomenon limited to weekend trading demand, and there's a possibility of selling pressure returning on Monday. Consequently, Bitcoin prices may consolidate in the short term, ranging between $100,000 (approximately $139 million) and $111,980 (approximately $155.84 million).
Meanwhile, if Bitcoin stabilizes above $105,000 (approximately $145.95 million), altcoins such as HYPE, Bitcoin Cash (BCH), Chainlink (LINK), and Sei (SEI) are expected to continue their additional rise. As the overall market trend breaks through major resistance levels, investor expectations for altcoins are also rising.
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