Bitcoin Price Rally Approaching Key Resistance at $123,236

I see Bitcoin currently trading around $114,299, leading to a total market capitalization close to $2.27 trillion. In the last 24 hours, the trading volume on exchanges reached approximately $35.08 billion in spot transactions, with prices fluctuating between $112,770 and $114,883. The daily chart indicates a rally from about $105,130 up to nearly $123,236 before retreating. This price movement suggests a strong bullish trend that faced temporary resistance, causing a slight pullback. The significant trading volume highlights active market participation, which could support further volatility and potential upward momentum if buying interest persists. Overall, Bitcoin's recent price actions reflect resilience amid minor corrections, emphasizing its role as a dominant cryptocurrency with substantial trader engagement. The key resistance around $123,236 needs to be monitored; a successful breach could fuel further gains, while failure might lead to short-term consolidation or retracement.