Author: White55, Mars Finance
Original title: Bitcoin is about to hit a new high, will the altcoin season come?
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With the Iran-Israel ceasefire and new highs in the US stock market, continuous buying by institutions has led to a new high in net inflows of Bitcoin last week, which may drive Bitcoin to start a new upward trend and reach a historical high. Bitcoin rose more than 6% last week, indicating strong buying around the 100,000 USD mark. Bulls are trying to consolidate their advantage by maintaining prices above 108,000 USD.
However, it is worth noting that liquidity is usually lower on weekends, so one should be cautious about breakouts. Sellers will return on Monday and will try to keep the price within the range of $100,000 to $111,980.
The strength of Bitcoin has triggered buying pressure for several altcoins, which have rebounded from their respective support levels. If Bitcoin sets a new all-time high, some altcoins will attempt to break above resistance.