Bitcoin's price has recently surpassed the $45K mark, with a strong technical chart indicating potential for a new all-time high. The daily timeframe shows a bullish trend, with the $40K area acting as solid support. BTC is now approaching the $48K resistance level, which, if broken, could significantly increase the likelihood of a new all-time high in 2024.

However, the 4-hour chart's Relative Strength Index signals caution, as it has entered the overbought region. This suggests that the market may consolidate or pull back before continuing towards the $48K zone. Additionally, on-chain analysis reveals a worrying trend among Bitcoin miners, who are consistently selling their holdings amid the price surge. This selling pressure could lead to a bearish price reversal if demand decreases in the near term.