Will Bitcoin reach a new all-time high?

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With Bitcoin's strong rebound in the past few weeks, many investors and analysts are watching whether Bitcoin can break through its all-time high (ATH) and set a new record. As market confidence rises, especially with the potential for Bitcoin to break through key technical levels, whether Bitcoin can continue to rise and surpass the previous ATH of $69,000 has become a hot topic in the market.

Key resistance level: $98,500

A key factor in whether Bitcoin can break the all-time high is whether it can surpass the current resistance level—particularly $98,500. If Bitcoin breaks this level, the market may experience stronger buying pressure, driving prices up and paving the way for a challenge to the previous high of $69,000.

Technical analysts believe that $98,500 is a crucial technical threshold. Once this price range is broken, Bitcoin may experience a sustained upward trend. At the same time, this level is also seen as a strong support area, and if the price fails to break through, it could lead to a price pullback or consolidation in the short term.

Risks and Pullbacks

Although Bitcoin is currently performing strongly, analysts like Rekt Capital remind market participants to remain cautious. They point out that if Bitcoin loses its support area, a pullback could occur. This means that while a breakthrough may bring upward potential, there are also risks in the market, especially in situations of unstable market sentiment or external influences. The risk of a pullback could temporarily diminish Bitcoin's momentum, particularly if key support levels fail to hold.

Therefore, investors should pay attention to the market's reaction, especially Bitcoin's performance near key price areas. Whether it can stabilize at high levels after the breakthrough, and whether more funds will flow into the market, will be important factors in determining the price direction.

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