Bitcoin Holds Strong After New All-Time High Above $111,000
Bitcoin (BTC) has soared to a new all-time high above $112,000, currently holding above $111,000, driven by robust global demand and high
Quick overview
- Bitcoin has reached a new all-time high above $112,000, driven by strong global demand and significant short liquidations.
- Analysts predict a potential short-term dip below $107,000 for accumulation before a sustained rally.
- The overall cryptocurrency market capitalization has rebounded to $3.47 trillion, indicating growing confidence among institutions and investors.
- Long-term projections suggest Bitcoin could reach $205,000 by the end of 2025, supported by institutional adoption and decreasing exchange reserves.
Bitcoin BTC/USD has soared to a new all-time high above $112,000, currently holding above $111,000, driven by robust global demand and significant short liquidations. Despite this bullish momentum, some analysts anticipate a calculated short-term dip below $107,000 for accumulation before a sustained rally to even higher targets.
The most recent rise in the cryptocurrency has helped the overall market capitalization of all cryptocurrencies go back to $3.47 trillion, although it is still below the all-time high of $3.73 trillion set in December 2024. This comeback shows that institutions are becoming more confident and ordinary investors are becoming more excited as Bitcoin becomes a top digital asset.
BTC/USD Technical Analysis: Range-Bound Trading Reveals Underlying Strength
Bitcoin’s trading range has stayed pretty constant between $100,000 and $110,000 since May 7, even if it has been volatile lately. There were only short falls to $98,000 in June that were soon regained. This price movement shows that the cryptocurrency can handle a lot of selling pressure while still holding important support levels.
Recent research from CryptoQuant shows that Bitcoin has held up against constant selling pressure on Binance Derivatives, with the Cumulative Volume Delta (CVD) being negative for at least 45 days. This number shows the net difference between aggressive buying and selling orders. It shows that derivatives traders have seen every upswing as a chance to sell. However, Bitcoin’s ability to maintain support above $100,000 despite this pressure suggests strong underlying demand from institutional and large-scale investors.
Short-Term Correction Expected Before Major Breakout
Tehi Thomas, a crypto market analyst, says that Bitcoin might need to make a planned pullback before its next big rally. The study shows that BTC could go below $107,000 as part of a planned liquidity grab by smart money, with the goal of reaching the $106,500–$106,200 range.
This possible decline fits with a Fair Value Gap (FVG) and important Fibonacci levels, especially the 0.786 retracement level near $106,200. Thomas thinks this level is a good place to buy because institutions might come back into the market. People don’t regard the correction as a breakdown of the market structure; instead, they see it as a necessary step to finish the accumulation phase.
Long-Term Bullish Outlook Remains Intact
Even though there is likely to be a short-term drop, Bitcoin’s overall trend is still very bullish. There are a number of reasons to be hopeful about this:
- Institutional Adoption: The fact that the first US state signed a Bitcoin reserve bill into law, following the federal Bitcoin reserve put up by Executive Order, has made Bitcoin more widely known as a safe-haven asset.
- Supply Dynamics: Bitcoin exchange reserves have been steadily going down since late April. This shows that investors are confident in the long run and that there may be rallies triggered by supply shocks in the future.
- Market Structure: Bitfinex analysts say that the latest surge has been based on solid ground, with genuine capital flows supporting it instead of speculative leverage.
Bitcoin Price Predictions and Key Levels
After the expected drop to the $106,200 support level, many think Bitcoin will create a reversal structure that might start the next big bounce. The immediate target remains the $110,500 zone, which represents significant untapped liquidity and could serve as a springboard for further price discovery.
More ambitious long-term projections suggest Bitcoin could reach $205,000 by the end of 2025, according to the Bitcoin Yearly Percentage Trend analysis. This prediction shows that the cryptocurrency might keep growing as more businesses start using it and supply problems become more obvious.
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