Bitcoin is 4% away from reaching its all-time high… Market is paying attention to the ”highest price”

As Bitcoin continues to trade in the $104,000 range and maintains an upward trend, some experts have predicted that a new all-time high could become a reality in the near future.
As of 3:10 p.m. on the 12th, Bitcoin was trading at $103,985 (about 1.1%) on the cryptocurrency market price website CoinMarketCap, up 0.11% from 24 hours ago and 9.87% from seven days ago.
Bitcoin was trading at 5.19 million yen (approximately 5.19 million yen). Bitcoin had previously exceeded the 105,000 dollar mark that morning. Currently, the price of Bitcoin is at its all-time high recorded on January 20th of this year.
That's just 4.71% lower than the $109,114 price.
Vincent Liu, Chief Investment Officer at Research
"Bitcoin continues to show a bullish technical trend as it surpasses the 50-day and 200-day moving averages," said Liu. "Institutional investment is expanding and the second
"Combined with an optimistic outlook for 2025, it is quite possible that Bitcoin could reach a new all-time high," he said. However, experts said Bitcoin's Relative Strength Index (RSI) is in the "overbought" zone.
"We're looking at this in-between point," said Rachael LUCAS, an analyst at BTC Markets.
Lucas said, "Entering the overbuying zone does not necessarily mean prices will fall, but it does increase the likelihood of short-term correction or stagnation."
He said, "It is possible that a recovery at the psychological support level of $100,000 and an upward trend after the correction could be a healthy development."
The latest Bitcoin rally was driven primarily by global macro factors, including optimism over trade negotiations between the U.S. and China.
The Block reported that the reason behind this is that the US has been sluggish over its trade war plans. In the past, concerns over a trade war caused by the US’s heavy tariff policy have dampened Bitcoin’s bull market.
According to Reuters, trade talks between the two countries in Switzerland ended on a positive note, with the Chinese side announcing that "important agreements have been reached."
On the day, U.S. Treasury Secretary Scott Bessent and USTR Jamieson Greer
Greer will co-present the results of the negotiations. Min Jeong of Presto Research
"We are seeing a classic cyclical market where Bitcoin dominance has returned to pre-2021 bull run levels, with funds moving into altcoins," analyst Jung said.
"Whether Bitcoin can surpass previous highs largely depends on the progress of trade negotiations and geopolitical variables."
"Beyond the global macro environment, current
"The sustained inflow of funds into Bitcoin ETFs and the buying up of Bitcoin by large corporations are the 'core' factors that will sustain further increases in the future," he said, adding that the U.S. Consumer Price Index (CPI) scheduled for the 13th
"Ahead of events such as the CPI release, investors should prepare for highly volatile markets through risk management and diversification strategies," he advised.