Bitcoin Climbs to $112,000, Marking Strong Year-to-Date Gain

Bitcoin (BTCUSD)

Fundamental Analysis

Bitcoin continued its strong rally, setting a new all-time high near $112,000 late Wednesday, driven by rising risk appetite, solid institutional demand, and crypto-friendly policies from the Trump administration. The price peaked at $111,988.90 before trading around $111,259, marking a gain of over 18% year-to-date.

The new U.S. economic stimulus package and rising inflation expectations have reinforced Bitcoin’s appeal as a hedge against fiat currency risk.
 
Technical Analysis

Short-term trend: Strongly bullish. Price has broken through the 109,818 resistance zone and is approaching the 112,000 mark. EMA 34, 89, 200: Price is trading above all three EMAs, confirming a strong uptrend with solid support from the moving averages.
 
There has been a significant increase in volume during recent bullish candles, confirming a breakout backed by real buying pressure. Volume at previous bottoms also indicates strong accumulation activity.

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