Bitcoin Hits Record High, Driving Altcoin Gains

Bitcoin has surged past the $120,000 resistance level, pushing towards new all-time highs. Traders are reacting with mixed signals, some capitalizing on short positions while others remain cautious. This momentum might lead to a short squeeze, further fueling Bitcoin’s climb. Meanwhile, altcoins have exhibited minimal volatility but experienced consistent gains. Their performance could be attributed to the easing of Bitcoin’s price action and increased market appetite for speculative investments.