Key data marks confidence in Bitcoin – US-China Trade Agreement fuel rally

Bitcoin traded above $104,000 after its second highest weekly end in its history, strengthening the strength of the current uptrend. The bullish momentum has been developing steadily over the past few weeks, with prices soaring after recovering their psychological levels of $90,000 and $100,000. This marks a significant shift in sentiment following months of consolidation and market hesitation.

According to CryptoQuant, the fear and greed index began to rise significantly, reflecting the growing optimism among Bitcoin investors. While sentiment is obviously bullish inclined, the index remains well below the euphoric “overload” area, suggesting more room for upwards before overheating conditions are reached.

This combination of strong price action and controlled sentiment may indicate sustainable rally rather than speculative blow-throughs. As Bitcoin is above the height of the key resistance zone, analysts and investors are starting to focus on the ever-high price of $109K $109K, the next major goal. Recent moves have also inspired a wider cryptocurrency market, with altcoins growing together with Bitcoin. As the momentum develops, the market seems ready to enter a new phase of expansion, driven by new confidence and capital inflows.

Momentum will follow Bitcoin Eyes’ all-time highest price of $109K

Bitcoin will enter a crucial week as the Bulls turn their sights to an all-time high of $109,000. After months of sales pressure and widespread market doubts, the leading cryptocurrency has regained attention, trading below $105,000. Now, this level is direct resistance and may become a major hub in the upcoming conference. If the Bulls manage to cross this obstacle, they are about to enter a breakthrough in unknown territory. However, if sales pressures intensify around the area, Bitcoin may face a period of merger or retracement before another attempt.

As top analyst Axel Adler stressed, market sentiment improved significantly. According to Adler’s insights, the current average of the fear and greed index is steadily rising, indicating an increase in investor confidence. Importantly, the index is far from an extreme greedy territory, which shows that optimism is being established but has not been overheated – a constructive signal of sustainable gatherings.

Macro development has further promoted positive prospects. The negotiations between Washington and Beijing on Sunday contributed to wider growth by giving global markets a sense of relief. The other leg setting is taking shape as geopolitical tensions ease and Bitcoin keeps its ground near multiple month highs.

BTC faces important tests at all-time highs

Bitcoin is trading at over $104,000, the second highest closing price in its history. Prices soared after recovering the $90K level in late April and now hovered below the all-time high (ATH) area. The chart this week shows obvious momentum, with BTC pushing the key resistance zone of large capacity and belief. But Price now directly tested the same range that marked the top level earlier this year, namely between $104K and $1.057 million.

This area is crucial. If the bull can exceed this level and close the current high weekly candles that have been seen all along, a long-term uptrend may be confirmed. Such a breakthrough will allow BTC to enter price discovery, potentially triggering momentum-driven purchases and institutional inflows. On the other hand, if the Bitcoin stall or back-test is done from here, it may mark short-term exhaustion and may require corrections to the support zone of $100K-$103K.

Quantitative trends and market sentiment remain favorable, especially with a downward trend in exchange balances and optimism among investors. However, the confirmation weekly breakout above ATH remains the final confirmation of the next macro leg. Now, everyone’s eyes are focused on whether this week can create history with new historical advanced.

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