Bitcoin's Big Week: Can It Hit $108, 400?

Bitcoin stands at a pivotal moment, needing to reach $108,400 to sustain the bull market. The market's volatility is at an all-time high, making this a critical phase for traders and investors.

Market Volatility and Recent Trends

The past week has been turbulent, with Bitcoin dipping below $104,000. However, signs of stabilization are emerging, though traders remain cautious.

Trader Insights

• Daan Crypto Trades highlights the market's extreme volatility, attributing it to low order volumes and emotional trading. He anticipates continued volatility in the near term.
• Rekt Capital notes that Bitcoin is nearing a positive weekly close above $108,381, which is crucial for maintaining historical demand levels.

Market Sentiment and Altcoin Performance

The overall crypto market sentiment has improved slightly, moving out of the extreme fear zone, but concerns persist. A significant factor is the underperformance of altcoins.

• A basket of the top 50 altcoins is trading below levels seen post-FTX crash in 2022, raising concerns among traders.

Liquidations and Market Unpredictability

Over $200 million in crypto liquidations occurred in the last 24 hours, underscoring the market's unpredictability.