Bitcoin surged past $111,000, reaching $112,150 briefly before settling at around $111,400, indicating strong bullish momentum in the cryptocurrency market.
The total cryptocurrency market capitalization has risen to $3.47 trillion, with Ethereum, XRP, Solana, and Cardano also experiencing gains.
Bitcoin's price is near a crucial resistance level of $111,000-$112,000, with potential for a bullish breakout to $111,500 or higher, while support levels are at $107,500 and $105,500.
Short-term price action for Bitcoin shows a symmetrical triangle pattern, with the market anticipating significant movements as liquidity accumulates around current price levels.