Key points:
Bitcoin made a new all-time high, but the bulls will have to sustain the higher levels for the momentum to pick up.
Several altcoins have bounced off their respective support levels, signaling a positive sentiment.
Analysts expect Bitcoin to maintain its positive momentum and surge above $200,000 by the end of the year.
Bitcoin (BTC) rose to a new all-time high on May 21 on easing macroeconomic fears and continued inflows into the US-based spot Bitcoin exchange-traded funds. Analysts expect the momentum to continue and Bitcoin to surge to $200,000 by the end of the year.
There are some murmurs among analysts about a bearish divergence, leading to a double-top pattern. However, private wealth manager Swissblock Technologies said in a post on X that its Bitcoin Fundamental Index is not showing any bearish divergence, and the onchain strength remains intact.
Crypto market