Bitcoin’s rally has become more difficult as the market sees a price liquidation as it hovers around $105,000, sparking expectations that its position will continue and open a new all-time high.
Bitcoin has rebounded sharply to regain its position after falling 4% at the opening of May 19 as investors took some profits amid a strengthening market.
Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD has passed $104,500, up 2.5% from its daily low.
The cryptocurrency pair experienced sharp fluctuations ahead of the weekly close, despite being at an all-time high. However, the rally was short-lived and quickly lost momentum.
At present, there are differing views on whether a new all-time high will be reached.
As Cointelegraph reported, various short-term price predictions for BTC have emerged in recent days.
Among these expectations are a target for the ‘early week’ of around $116,000, as well as a possible drop back to around $90,000.
