Bitcoin Price Today Hits New ATH of $110,000, Why is BTC Suddenly Up 8%?

After a swift recovery on January 19, Bitcoin created a bearish swing failure pattern on the daily chart, leading to a 6.33% crash. Regardless of the short-term correction, Bitcoin price today is up -2.34% and hit a new all-time high ($ATH) of $110,000. While the weekend crash and massive FOMO may have raised some concerns, the push to all-time highs has quashed all speculations of a cycle top.