Key points:
Bitcoin (BTC) is at its highest levels since January, and traders are eyeing key levels to watch for what’s next.
After hitting $104,000, BTC/USD is retracing to establish support, but the fate of $100,000 is among the concerns for market participants.
Current price action represents an important battleground, as measured from the $75,000 lows this year.
” Headline driven” BTC price gains draw scrutiny
Just $6,000 from new all-time highs, per data from Cointelegraph Markets Pro and TradingView, BTC price action has stunned the market by jumping 10% in days.
The pace of the BTC price gains has come as a surprise for many, but longer-term perspectives show where the most difficult battleground lies.
“Since this current impulse was primarily headline driven again this puts markets into a crucial & critical trading day,” trader Skew said about the impetus for