Bitcoin Stalls Below All-Time High — But Momentum Is Brewing

Bitcoin is holding firm near the $103,000 level, trading sideways after last week’s explosive move past six figures.

The pause has traders watching closely: is this consolidation just a breather—or the buildup to another major leg up?

Price action has been tightly compressed since BTC tapped $104,300, forming what some see as a bullish flag near a crucial resistance zone. With the $109,000 all-time high now within striking distance, the pressure is building for a decisive breakout. But while bulls have the upper hand, markets remain cautious as sellers hover near recent highs.

Under the surface, however, something may be shifting.

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Fresh on-chain data from CryptoQuant shows early signs of a potential market transition. Their Bull-Bear Market Cycle indicator—bearish since late February—just flashed its first positive reading in weeks. Though still modest, the upturn in the 30-day moving average suggests mounting bullish pressure. If the short-term trend line overtakes the longer-term 365DMA, it could mirror past moments when Bitcoin entered full-blown rally phases.

Broader conditions seem to support the setup. Altcoins are gaining traction, macroeconomic volatility has cooled, and investor sentiment is improving. If momentum continues building, Bitcoin could soon move beyond resistance and enter price discovery once more.

For now, the market waits—but the pieces for a breakout are quietly falling into place.

Alexander Stefanov