Bitcoin is trading just below its all-time high around $109,000-$110,000, indicating a potential breakout as momentum builds.
Analysts are predicting a major price surge as bullish on-chain signals and tightening volatility support the bullish structure.
Short positions are being squeezed on major exchanges, with Taker Buy Volume spiking and aggressive buyers stepping in, potentially leading to rapid price expansions.
Bitcoin's weekly chart shows strong continuation with the eighth consecutive green candle, and a close above $110,000 could mark the highest weekly close in history, setting the stage for further upward movement.