After hitting a new all-time high of $111,970 on May 22, Bitcoin took a restful weekend and hovered within $106,000 and $109,000 range. Now, ahead of the weekly opening, it is eying to break above the $110K price mark in a steady rally.
At the time of writing, Bitcoin is trading near $109,710–up 2.36% in the past 24 hours. The daily trading volume for Bitcoin has increased with a decent gain of 7.33% to $46.57 billion—as per CoinMarketCap data.
The upward movement in Bitcoin price comes ahead of anticipation around Monday’s U.S. stocks volatility, which usually tightens the tensions in the crypto market.
Given that Bitcoin recently broke to a new all-time high, the current market sentiment is filled with mixed signals as some believe it will continue its uptrend while others think it will enter into a healthy correction phase.
Meanwhile investors’ confidence on X is overwhelmingly bullish. One user noted, “ eying $110K on Monday signals even stronger momentum for the week ahead, as weekends typically see low volume and pullbacks.” Yet, caution persists, with some traders warning of risks if Bitcoin fails to hold above $104,400 at the weekly close.
What to expect this week?
Looking ahead, experts predict Bitcoin could test a new all-time high above $112,000 and reach as high as $120,000 if it sustains above the $110,000 mark. Though short-term consolidation between $103,500 and $105,200 is possible.
The Monday opening will decide the weekly fate for Bitcoin as it moves through this crucial timeline. The market confidence is at peak and the institutional adoption is also ever-increasing, both these factors are expected to push Bitcoin to new highs.
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