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This week, Bitcoin has been highly volatile, reaching a peak of $104,000 before retracing slightly to around $90,000. However, it is now attempting a strong weekly close above the pivotal $100,000 mark—the same benchmark that was rejected last week. This closing is particularly important as it represents a psychological barrier and a key level of support and resistance.
The potential for Bitcoin to close the week above $100,000 is not just symbolic; it would mark a new all-time high for weekly closures, surpassing last week’s close of around $97,000. Furthermore, Bitcoin has experienced a remarkable 37% increase over the past month, paving the way for continued upward momentum.