Bitcoin’s $111,000 All-Time High Faces Skepticism from Experts

Bitcoin's recent momentum has weakened after reaching an all-time high of $111,000 on May 22. Analysts are divided on the implications for its price action moving forward.

Some experts question the strength behind the new high, citing a lack of technical confirmation.
Tony Severino highlights that Bitcoin did not achieve new highs against major currencies like the Euro, British Pound, Japanese Yen, and Swiss Franc.
Current prices show Bitcoin at €93,229 and ¥15.28 million, below previous peaks.
The upward movement may be attributed to a weakening USD rather than intrinsic Bitcoin strength.
Severino advises caution; the upcoming monthly candle close will be crucial for determining future direction, with potential bearish signals if indecision persists.

As of now, Bitcoin is trading at $104,850, recovering from a low of $103,832.