Bitcoin’s weekly closing price exceeds $108,000, confirming that bulls are in control
Bitcoin latest weekly candlestick closing price Firmly above key support at $108,000sending a clear message to the market that the bulls are still in control. This level has been acting as a psychological and technical anchor in recent weeks. A higher close signals renewed strength and confidence among investors after weeks of mixed sentiment.
BTC/USD chart for the past day – TradingView
Analysts see this as follows: strong defensive moves By buyers who continue to absorb selling pressure. The structure of the chart shows that Bitcoin continues to hold lower prices. This is a classic sign that the market is poised for another bullish wave if momentum holds.
Market Snapshot: BTC and ETH rebound on strong volume
According to the latest market data:
- Bitcoin ($BTC) will be traded at $110,811top +4.15% in 24 hours, Market capitalization $2.2 trillion and more Daily trading volume is $62 billion.
- Ethereum ($ETH) strictly follow $4,038top +4.46%maintain, Market capitalization $487 billion.
This synchronous rise in the top two cryptocurrencies is often marks the beginning of new bullish sentiment across the broader market. Historically, when Bitcoin stabilizes above an important level, altcoins tend to follow suit. If BTC remains above $107,000, this pattern could repeat soon.
Bitcoin vs. Gold: The Scarcity Debate Returns
One striking story that has resurfaced online highlights a timeless truth.
“They can discover more gold, but they can never discover more bitcoin.”
This simple but powerful statement highlights the value of Bitcoin. The upper limit of supply is set mathematically. Of 21 million coinscontrasted with uncertain gold reserves. As inflation concerns continue around the world, investors are once again treating Bitcoin as: Digital gold — a finite, borderless hedge against monetary depreciation.
The story of absolute scarcity is likely to draw more long-term capital back into cryptocurrencies, especially as traditional assets like the gold plateau.
Bitcoin prediction: $250,000 in sight?
meanwhile Korea Blockchain Week (KBW)famous strategist tom lee Made a bold call:
“Bitcoin will reach $250,000 in the next 75 days.”
Although such forecasts are often controversial, they reflect market expectations. new optimism Following continued support for Bitcoin above $108,000. Lee’s forecast, however ambitious, reflects confidence in crypto’s structural growth supported by macro tailwinds such as institutional inflows, ETF demand, and the Fed’s accommodative stance.
What’s next for the market?
If Bitcoin continues like this Transactions over the $107,000-$108,000 rangeanalysts expect a gradual rise towards . Resistance zone between $115,000 and $120,000. There could be a nice breakout there. Reignite the altcoin marketleading to new capital rotation into Ethereum, Solana, and other high-beta assets.
Conversely, a loss of $107,000 could cause a short-term correction, but so far. Bullish bias remains dominant. As long as the weekly close is above support, the crypto market could be gearing up for it. Year-end comeback rally.
