Bitcoin is struggling to break above its all-time high of $112,000, while altcoins are facing pressure and retracing to lower levels.
Analysts are cautiously optimistic as BTC price holds above major support despite volatility, and a strong weekly close could shift sentiment positively.
The consistent Coinbase premium signals bullish sentiment and strong spot buying pressure from US-based investors, indicating institutional demand remains robust.
Bitcoin's current tight range between $103,000 and $110,000 signals a potential breakout, with the market awaiting confirmation for the next directional trend, while macroeconomic factors and on-chain signals play crucial roles in determining short-term trajectory.