Bitcoin Approaches Record High... Anticipation for a Breakthrough This Week

# Bitcoin Nears All-Time High, Investors Eye New Record Amid Bullish Sentiment Bitcoin (BTC) continues its upward momentum, approaching its previous all-time high. According to Cointelegraph on May 11 (local time), investors are closely watching for Bitcoin to potentially set a new record high within the week. Bitcoin has surpassed the crucial $100,000 threshold, marking a 10% weekly gain. The cryptocurrency’s all-time high of $109,588 (approximately KRW 153.36 million) is now within reach, driven by sustained inflows into BlackRock’s spot Bitcoin exchange-traded fund (ETF). Investment platform Faside Investors reported that BlackRock’s fund has seen inflows for 19 consecutive days, with $1.03 billion entering just last week. The rally isn’t limited to Bitcoin. Numerous altcoins have also gained traction, breaking key price levels and sparking speculation about the onset of an "Altseason." However, some analysts warn that the altcoin surge appears modest compared to previous declines, advising investors to stay cautious. # Bitcoin Price Outlook Bitcoin is steadily advancing towards its all-time high of $109,588. The Relative Strength Index (RSI) has entered overbought territory, indicating potential short-term consolidation or correction. Nonetheless, Bitcoin is expected to find support between $100,000 and the 20-day Exponential Moving Average (EMA) of $96,626. A rebound from this range could heighten the odds of surpassing $109,588 and potentially reaching $130,000. Conversely, if bearish trends push the price below the 20-day EMA, Bitcoin could dip to the 50-day Simple Moving Average (SMA) at $88,962. The $107,000–$109,588 range poses a significant resistance zone, but as long as the 20-day EMA holds, the bullish trend is likely to continue. # Ethereum Price Outlook Ethereum (ETH) has shown strong demand, skyrocketing from $1,808 on May 8 to $2,600 (approximately KRW 3.64 million) on May 10. This surge pushed the RSI into overbought territory, suggesting possible short-term consolidation. If prices retrace, support can be expected at $2,320 and $2,111. Should Ethereum rebound, it could aim to break above $3,000. However, a drop below $2,111 may result in trading between $1,754 and $2,600. # Dogecoin Price Outlook Dogecoin (DOGE) signaled a short-term trend reversal by breaking the $0.21 resistance on May 10. However, selling pressure emerged near $0.26, causing a pullback. If prices recover from the $0.21 level, DOGE might target $0.31. Alternatively, a drop below $0.21 could see the price retreat to $0.14. # Key Altcoin Outlooks - **Pepe (PEPE):** PEPE surged to $0.00001385, breaking the $0.000011 resistance. However, entering the overbought zone raises the likelihood of a correction. If $0.000011 serves as strong support, PEPE could climb to $0.000017 and $0.000020. - **Cosmos (ATOM):** ATOM breached $5.15 on May 10, showing upward momentum. However, sustained selling pressure could lead to a correction towards moving averages. Overbought indicators and existing resistance levels suggest caution is warranted. Retail investors are advised to proceed with careful judgment amid evolving market dynamics.