Bitcoin (BTC) has recently undergone a significant test, approaching the $30,965 mark, a move that many analysts are calling historic. This comes as the broader financial market faces turbulence, with the S&P 500 plunging to a 4-month low. Despite the broader market’s downturn, Bitcoin’s resilience is evident as it continues to hold its ground. The cryptocurrency’s current behavior suggests that it might be reclaiming its status as a safe-haven asset. On the technical front, Bitcoin’s price action is nearing a crucial juncture. While it has shown signs of potential upward momentum, the $31,000 level is emerging as a significant resistance point. A successful breach of this level could pave the way for further gains, while failure might lead to a consolidation phase or potential pullback.