Bitcoin prices have remained above the key psychological level of $100,000 since May 9, 2025, despite briefly dipping below it once on Sunday, June 22, 2025, when it hit approximately $98,000. However, the rebound was swift, and the cryptocurrency is currently trading near the stiff resistance level of $110,000 — a level it has struggled to hold above for long. A clear breakout and sustained move above this level could pave the way for a retest of the all-time high at $112,000, recorded on May 22, 2025, and potentially a new breakout.
Bitcoin has risen by around 17% year-to-date, outperforming major U.S. equity indices.
Several key factors continue to support Bitcoin’s price:
- Ongoing inflows into Bitcoin-related exchange-traded funds (ETFs) for the fourth consecutive week.
- Bitcoin ETF assets surpassed $134 billion by the end of H1 2025 — a record high.
- Crypto investment products (ETPs) have recorded 11 consecutive weeks of inflows, attracting more than $17.5 billion over that period.
- Growing risk appetite among investors, particularly large institutions such as pension funds, which are increasingly allocating Bitcoin into their portfolios for diversification and on strong optimism about the industry.
Technical Outlook:
A strong support level is found near $106,000, which aligns with the 50-day moving average. If broken to the downside, the next support lies at the 100-day moving average, currently trending higher near $98,000.
The Relative Strength Index (RSI) stands at 58, signaling positive momentum.
Moreover, a bullish crossover occurred yesterday on the MACD indicator, where the MACD line (blue) crossed above the signal line (orange), reinforcing the bullish sentiment.
Please note that this analysis is provided for informational purposes only and should not be considered as investment advice. All trading involves risk.
