Bitcoin continues to show impressive growth, reaching a record high of $121,057.78. In the last 24 hours, BTC price increased by 2.72%, with market capitalization amounting to $2.4 trillion.
Rise and Key Levels
Bitcoin has broken through several key resistance levels, and analysts predict that it may reach the $125,000 mark if the current trend continues. Trading volume has surged to $61.56 billion, which is a 35% increase compared to the previous day.
Impact on Cryptocurrency Market
The renewed rally in Bitcoin inspires optimism across the wider cryptocurrency market. It is expected that Bitcoin's rise will positively impact altcoins, such as Ethereum, potentially leading to price increases.
Expectations Among Traders
However, traders remain cautious regarding potential corrections after such a sharp rise. With Bitcoin's circulating supply already near its maximum, any dips may be short-lived, especially considering the interest of long-term holders.
Bitcoin continues to set records, creating positive expectations in the cryptocurrency market. Investors and traders are advised to act carefully while monitoring price movements.
