Bengaluru, May 27 -- As Bitcoin aims to climb above $110,000, which is acting as a major resistance level, some analysts believe that its price rally has just started and are forecasting new highs for Bitcoin in the near term.

In the previous trading sessions, Bitcoin's strong bullish momentum pushed its price to its new all-time high of $111,814 before it corrected to its present trading range.

Currently, Bitcoin and other major coins have been trading in green for the last 24 hours. At the time of writing, Bitcoin is trading flat at $109,600 in the past 24 hours. For the present price action, the total market cap of Bitcoin reached $2.17 trillion, with a 24-hour trading volume of $31.77 billion.

In this overview, we will analyse the...