Bitcoin's price has reached a new all-time high (ATH) of $109,114 with a trading volume of $112.51 billion. This surge in price is attributed to increased optimism among investors regarding the growing blockchain technology and the potential pro-crypto policies of Donald Trump. While the BlackRock and Fidelity Bitcoin ETFs saw inflows, Grayscale's GBTC experienced outflows. Donald Trump's launch of the TRUMP memecoin led to a strong bullish outlook in the market. However, traders may initiate profit-booking and there is a possibility of a short pullback. The RSI indicator shows the market nearing overbought conditions, but the EMA 50-day supports the Bitcoin price. The target price for the week is $110,000, but there is a crucial support level at $100,000. Long-term projections suggest Bitcoin could reach $170,000 this year.



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