Bitcoin's rally stalls at $109,000 as buyers show fatigue

Bitcoin's price has been demonstrating a bullish structure, but recent market indicators suggest that buyers are exhibiting signs of fatigue. The price has decisively broken below its internal range, forming a clear break of structure. This shift in market dynamics has led to a stalling of the rally at the 0.236 Fibonacci level near $109,323, indicating a potential slowdown in upward momentum. Despite this, the overall market structure on a macro scale remains bullish, with the formation of a higher high (HH). However, to confirm this bullish trend, a higher low (HL) is needed to rule out the possibility of a liquidity grab.

The recent price action has seen Bitcoin's price stalling at key resistance levels, with technical indicators suggesting a potential short-term correction. Analysts have noted that the rally is showing signs of fatigue, which could lead to a temporary pullback before resuming its upward trajectory. The price has been hovering around $109,000, with multiple market metrics indicating an improvement in investor sentiment. However, the bulls are struggling with upside momentum as the $100,000 level comes into focus.

The market's overall sentiment remains optimistic, with institutional demand for cryptocurrency investment products continuing to rise. This has led to a surge in Bitcoin treasury holdings among publicly listed companies, further bolstering the market's bullish outlook. However, the recent price action has raised concerns about the sustainability of the current rally, with some analysts predicting a short-term correction before a potential rally to new all-time highs.

In summary, while Bitcoin's price continues to exhibit a bullish structure, recent market indicators suggest that buyers are showing signs of fatigue. The price has stalled at key resistance levels, and technical indicators suggest a potential short-term correction. However, the overall market sentiment remains optimistic, with institutional demand for cryptocurrency investment products continuing to rise. The market's bullish outlook is further supported by the formation of a higher high on the macro scale, although a higher low is needed to confirm this trend.