On May 12, it was reported that Bitcoin is currently about 4.5% lower than the historical high of US$108,786 in January. Vincent Liu, chief information officer of Kronos Research, said: Bitcoin is currently hovering near historical highs, and strong technical momentum supports it to break through the 50-day and 200-day moving averages. The growing number of institutional investors and optimistic expectations for the outlook for 2025 indicate that Bitcoin is expected to hit another record high. However, another analyst pointed out that Bitcoin's Relative Strength Index (RSI) indicates that the cryptocurrency is in overbought territory. Rachael Lucas, analyst at BTC Markets, said: "This does not necessarily signal an immediate market reversal, but it does increase the likelihood of cooling or sideways consolidation in the short term." A retest and consolidation above the key psychological level of $100,000 would be a healthy development and could set the stage for further gains. Min Jung, a Presto research analyst, said: The recent rise in the cryptocurrency market is driven by renewed optimism about Sino-US trade negotiations. With Bitcoin's dominance reaching pre-bull-market levels in 2021, we are now experiencing a classic rotation-capital starts flowing into altcoins. Analysts Presto added that the likelihood of Bitcoin breaking past previous historical highs may depend on how trade talks develop, while other rising geopolitical tensions remain a key variable.