Will the bitcoin price reach $ 110,000 while the Crypto Fear and Greed Greed index turns green?

Bitcoin price increased this week, as the important resistance level reached $ 104,000 for the first time since February.

Bitcoin (BTCIt flourished by approximately 40 % of the lowest level in April, which sparked a wider gathering in Altcoin. The Bitcoin market ceiling rose to a trillion dollars, while the maximum Crypto market rose to $ 3.25 trillion.

Several factors nourish the Bitcoin Rally. First, it is increasingly optimistic that trade tensions between the United States and other major economies may reduce. The United States has already ended a deal with the United Kingdom, and senior officials are scheduled to meet with their Chinese counterparts this week.

The end of the current customs tariff system will be a positive incentive for both inventory and cryptocurrencies, as it will reduce stagnation fears, reduce inflation pressure, and improve the risk of federal reserve rate discounts.

In addition, analysts upgrade their Bitcoin expectations. In a recent note, Standard Chartard said its previous goal of $ 120,000 was very conservative. Cryptoquant’s founder Ki Young Joe admitted that he was It is wrong to call the end of the bull cycle. It expects BTC to be more bullish, and help in high institutional demand.

Meanwhile, the Instant Bitcoin Investment Funds attracted more than $ 40 billion in flows since January 2024, with the addition of more than $ 1.7 billion this month alone. Companies like Semler Scientific, Strategy and Metapanet have continued to collect BTC through these investigative boxes.

Bitcoin price may continue to rise when investors become generous. The Crypto Fear and Greed index jumped to the 70 -year -old greed area. Historically, Bitcoin and other altcoins work well when investors are greedy.

Technical analysis of bitcoin prices

The weekly graph shows that BTC has reached $ 79,510 in April, and has now published five consecutive weeks of gains. It is still above the 100 -week moving average, and it is a sign that the bulls continue to control the market.

Bitcoin seems now to re -test its highest level ever at $ 109,400. With both the RSI and MACD, the momentum is preferred to bull.

The collapse above this level would confirm the upcoming continuity and may push BTC towards the next psychological teacher at $ 110,000.