Bitcoin is approaching a critical juncture as investors speculate whether the cryptocurrency can surpass the $100,000 mark despite a bullish US dollar. The flagship digital asset has shown resilience, bouncing back from market downturns, yet faces mounting pressure from macroeconomic factors, including a strengthening dollar and higher bond yields.
Source – FXStreet
Analysts point to Elliott Wave theory, a popular technical framework, suggesting that Bitcoin could enter a fifth wave rally. This pattern often aligns with explosive upward moves, but skeptics argue that external headwinds like tighter monetary policies might cap gains. While Bitcoin’s adoption and network fundamentals remain strong, its relationship with a bullish dollar complicates the outlook. Investors are closely watching key resistance levels, signaling whether Bitcoin has the momentum to break new all-time highs.
