Bitcoin (BTC) Again Shows Signs of Renewed Strength as It Approaches a New All-Time High

Bitcoin (BTC) again shows signs of renewed strength as it approaches a new all-time high. The upsurge creates an opening for investors to pursue promising crypto

Cryptocurrency market continues to show strength as Bitcoin approaches its all-time high. As the leading cryptocurrency edges closer to new highs, investors are looking for promising altcoins that might follow Bitcoin’s lead and deliver stellar gains. Among the best crypto to buy now are Bitcoin Pepe, which is the first meme coin on Bitcoin’s blockchain, PepeX, a launchpad driven by AI, and CartelFi, a decentralized finance (DeFi) platform that converts meme coins into consistent income streams.

Bitcoin Shows Renewed Strength

Bitcoin price today is up slightly and trading above $104,000 as it approaches its all-time high (ATH) of about $108,000. This is a significant recovery from the lows of $75,000 seen in the first part of this year, showcasing a resurgence in investor confidence.

On-chain metrics indicate that a large number of holders are accumulating Bitcoin as exchange reserves continue to decline. This means fewer coins are on the exchanges to sell, a sign that holders expect more gains. Historically, such an accumulation phase has preceded powerful rallies. The market mood is extremely optimistic with traders already predicting Bitcoin to increase above $110,000 in the near term.

Technical indicators validate the strength but call for caution. Bitcoin’s RSI at 74 means it’s in overbought levels. A reading above 70 typically implies the asset might experience a short-term pullback or consolidation before it rises further. However, the overall trend is bullish by virtue of solid volume and momentum.

Bitcoin broke out of a “bull flag” on weekly charts last month, a timeless pattern suggesting a surge in upward momentum. Volume increased on the breakout to boost the thrust; the 20-day moving average at about $87,117 now serves as firm support and a safety net in case prices fall.

#Bitcoin Bull flag breakout on the weekly candle chart.$BTCUSD pic.twitter.com/7EgBlmO6gu

Additionally, the reading on the MACD at 3,671 is a buy indication. Although the overall oscillators are neutral, the moving averages strongly indicate a buy signal and are optimistic concerning the movement of Bitcoin. All these technical indicators combined are indicating a positive direction of Bitcoin’s price action.

Macro Factors Fueling Bitcoin’s Rise

Global events have played a major role in Bitcoin’s recent surge. On May 12, US and China agreed to a temporary tariff reduction deal, easing months of trade tensions between the world’s two largest economies. The US cut its tariffs on Chinese imports from 145% to 30%, while China lowered its tariffs on US goods from 125% to 10% for 90 days. This move lifted risk appetite across global markets, benefiting stocks and cryptocurrencies.

🚨JUST IN 🚨: US and China to temporarily lower tariffs for 90 days.-US cuts from 145% to 30%-China cuts from 125% to 10%$BTC Jumps to $105,500 pic.twitter.com/YlvSM0K9wz

After making the announcement, gold prices dipped by 2.3%, indicating a rotation away from safe havens to risk assets such as Bitcoin. This rotation provides a conducive climate to fuel the momentum of cryptocurrencies.

Major institutions are still optimistic about Bitcoin’s long-term outlook. Michael Saylor’s firm Strategy recently bought 13,390 BTC at around $1.34 billion at an average price of roughly $99,856 per bitcoin. Strategy sits on a total of 568,840 BTC at an average price of around $69,287 per coin.

In a similar manner, Metaplanet added to its holdings by buying 1,241 BTC valued at $125.3 million at a price of $100,967 per Bitcoin to bring its holdings to 6,796 BTC valued at $613.3 million.

Meanwhile, a whale bet against the strong cryptocurrency rally. He used $25 million USDC to short BTC, ETH, and SOL with a 5x leverage. He has already lost around $700,000, proving the strength of the rally.

According to polymarket betting data, traders are increasingly expecting Bitcoin to surpass its all-time high by the best crypto to invest in 2025, supporting existing technical and fundamental narratives.

In short, easing geopolitical tensions, solid institutionally backed buying, and favorable market sentiment fuel Bitcoin’s surge. The outlook for a new all-time high looks bright and opens up the possibility to let fresh crypto follow Bitcoin’s steep price movement.

Best Crypto to Buy As Bitcoin Approaches ATH

As Bitcoin approaches its all