Bitcoin Hits Resistance, Germany Proposes BTC Reserve as Market Confronts Bull Trap Risk

Bitcoin continues its ascent toward the $116,000 threshold, prompting debate among analysts about whether this represents genuine bullish momentum or a potential market trap. This surge coincides with a complex landscape of political developments, including Germany’s Alternative for Germany (AfD) proposing a strategic Bitcoin reserve. Technical analysis suggests resistance at multiple levels, and a significant risk exists for a bull trap scenario if price stalls.