- Bitcoin nears a breakout above key $110K resistance as institutional ETF inflows top $4 billion in 12 days.
- A bullish reversal pattern forms, with analysts eyeing $165K targets if momentum sustains above $110,500.
- Support zones between $104K and $104K–$105.5K may offer bullish entry points before a potential push past $112K.
Bitcoin appears poised for a major breakout as it rides a wave of renewed bullish sentiment following weeks of market turbulence. After enduring prolonged volatility driven by macroeconomic uncertainty, the world’s largest cryptocurrency is forming a notable reversal pattern and approaching a key Fibonacci retracement level that traders are watching closely.
At the time of writing, Bitcoin (BTC) is trading at $107,269, registering a 0.62% gain over the last 24 hours. Its market capitalization stands at $2.13 trillion, with a 24-hour trading volume of $23.49 billion. This price action marks a subtle but significant shift, as bulls begin reclaiming control.
The rally isn’t limited to BTC. Several major altcoins are also showing strength. XRP, BNB, Solana, Dogecoin, SUI, and Cardano have posted modest gains between 1 and 4%, signaling broader market participation and growing investor confidence across the digital asset landscape.
Bitcoin Eyes Breakout Above $110,000 as ETF Inflows Surge
Renowned crypto analyst Michaël van de Poppe believes Bitcoin is primed for a major upside move. According to him, BTC recently swept liquidity above the $108,000 level before pulling back and entering a consolidation phase just below significant resistance. He identifies $110,500 as a crucial breakout level, a point that, if surpassed, could trigger an accelerated run toward new all-time highs, much like the momentum seen after clearing $106,500.
On the downside, van de Poppe points to $105,500–$104,000 as strong dip-buying zones, with deeper support around $98,500–$100,000. Any short-term correction into these levels could offer a bullish reset and present prime entry opportunities.
While Bitcoin’s momentum has temporarily slowed, analysts remain confident the bull cycle is far from over. The MVRV ratio, which compares market value to realized value, is currently at 2.2, a level still well below typical cycle peaks. It suggests ample room for further upside.
What’s fueling the optimism? Spot Bitcoin ETFs. Over the past 12 days, these products have seen $4 billion in net inflows, a powerful sign of institutional conviction. If the trend continues, BTC could soon breach the $112,000 mark, with some analysts forecasting a parabolic move toward $165,000.
Also Read: Bitcoin Could Hit $150K in Q3 if This Happens
Bitcoin Faces Final Resistance at $108,000–$110,000
Analyst AlphaBTC warns that breaking through the $108,000–$110,000 resistance zone will require strong momentum. However, he notes that a brief pullback to $104,000–$105,000 could provide the necessary liquidity for a stronger upward push.
Meanwhile, Rekt Capital has labeled $108,000 as the “final major weekly resistance,” the last major barrier standing between Bitcoin and a new all-time high.
Adding to the bullish chorus, Scott Melker emphasizes Bitcoin’s resilience amid geopolitical uncertainty and short-term volatility. He attributes this strength to surging institutional interest and the solid demand base now supporting BTC.
Also Read | Bitcoin Nears $108,000 Resistance as Investor Accumulation Remains Mixed
