# What’s Next for Bitcoin Price as BTC Dominance Nears 2020 Resistance
## Introduction
Bitcoin price has seen a notable increase, hitting a new all-time high of $111,999 on July 10. This surge came as the interest in risk assets grew amidst optimism surrounding potential Fed rate cuts for the year. With Bitcoin’s market cap dominance now at 65%, it is approaching a key resistance level last seen in 2020.
## Bitcoin Price Outlook
On July 10, Bitcoin made a significant climb, setting a fresh record high at $111,999. The increasing interest in risk assets, driven by expectations of Fed rate cuts, has contributed to this uptrend. As Bitcoin’s market cap dominance reaches 65%, attention is drawn to the resistance level that was encountered back in 2020.
## BTC Dominance and Support Levels
Bitcoin’s dominance in the cryptocurrency market has strengthened, currently standing at 65%. This marks a rise in market share for Bitcoin compared to other digital assets. The current uptrend suggests a potential challenge as Bitcoin approaches the resistance level from 2020.
## Conclusion
The recent surge in Bitcoin price, reaching a new all-time high, has been influenced by the optimistic sentiment surrounding Fed rate cuts and interest in risk assets. With Bitcoin’s dominance at 65%, it is now approaching a significant resistance level last encountered in 2020. The outcome of this approaching level will be crucial in determining the next direction for Bitcoin’s price.
_Have you been following Bitcoin’s price movements closely amidst this market excitement? Stay tuned to see how BTC navigates the resistance ahead._