BTC just ripped to a fresh all-time high, breaking into the $123k zone with a strong 3.05% intra-day move. In fact, it’s now officially Bitcoin’s most aggressive rally of the cycle so far. Since then, it has surged nearly 13.26%, outpacing even the post-election breakout, where BTC topped out at $108,230 with an 11.12% weekly gain.
Technically, it’s showing up in the indicators too. Unlike past highs where the MACD flipped bearish shortly after the top, this time it’s holding firm. Meanwhile, the RSI is grinding higher in tandem with price, which suggests the rally isn’t running on fumes.
In fact, Bitcoin’s 12H heatmap reveals the nearest short liquidity pocket sitting at $123,317, with around $52 million stacked. If this technical divergence holds, could Bitcoin be setting up for a classic short-side liquidity sweep into that zone?
Given the current technical setup and the underlying sentiment, that scenario appears increasingly likely. As of now, BTC is being trade around $119,200 - $120,100 and as seen a jump of 2.6% in its price over the past 24 hours and stands at a market capitalization of $2.37 Trillion, while total crypto market cap hits $3.81 Trillion.