Bitcoin experienced weekend volatility due to market dynamics, approaching a key closing level of $109,000. Trader James Wynn's moves created significant shifts, including an attempt to liquidate a $13.9 million short position. Despite the volatility and lower liquidity, traders noted bullish signals in the market structure. Rising price action led to Bitcoin hitting near two-week highs, with a focus on potential record weekly and monthly closes. Analysts suggested that if Bitcoin closes above $109,000, it might initiate a new upward trend and set the stage for new all-time highs. The current highest-ever weekly close is slightly above $109,000, with traders expressing optimism about ongoing market strength and uptrend potential, particularly once liquidity increases after the weekend. Rekt Capital highlighted this weekend's pivotal closing price could enable Bitcoin to enter a new uptrend, marking a historic moment for the cryptocurrency.

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