Bitcoin is now consolidating above $108K after a strong liquidity sweep.
Analysts expect breakout continuation to reach $120K if the trend holds.
Bitcoin is showing renewed strength as it breaks through a major resistance zone. After clearing a critical resistance zone between $106,500 and $107,000, Bitcoin broke above the $108,000 level.
Market analyst Michaël van de Poppe’s recent analysis shows that the move followed a liquidity grab on lower timeframes, which helped trigger the rally. This upward breakout flipped the market structure and pushed Bitcoin into consolidation above $108,000.
A great move by #Bitcoin, which generally took the liquidity on lower timeframes to fuel itself to the upwards breakout.
It's consolidating above $108,000 and I assume we'll start to see a new ATH in the coming 1-2 weeks with this upwards pressure. pic.twitter.com/WdWuT6NXdY
— Michaël van de Poppe (@CryptoMichNL) July 3, 2025
The price also tapped liquidity near $109,000 before a minor pullback, which van de Poppe described as a healthy retest. He identified strong support between $103,500 and $105,000, where bullish accumulation appears to be underway. If current buying pressure continues, he suggested Bitcoin could reach a new all-time high within one to two weeks.
Current Price Action Reflects Bullish Stability
At the time of writing, Bitcoin is trading at $109,333.78, up 2.01% over the past 24 hours. The price is consolidating just below key resistance at $109,460, with strong volume backing the upward move. Support remains firm around $106,980, highlighting the growing base for buyers.
Price action reflects a steady uptrend as Bitcoin tests its recent highs. Market data shows that momentum is favoring bulls, with consolidation patterns suggesting a possible breakout continuation.
June’s Underperformance May Set Up July Rally
Ecoinometrics data has shown that Bitcoin posted relatively flat returns in June 2025 compared to its 12-month average. While the price held steady, it underperformed major asset classes, including equities and commodities.
Overall, Bitcoin held steady in June, delivering below-average returns relative to the past 12 months.
By contrast, most stock indices delivered above-average returns over the same period.
That’s not a bad setup for Bitcoin to have its breakout moment in July. pic.twitter.com/EckxBUUPsS
— ecoinometrics (@ecoinometrics) July 1, 2025
Stock indices like the S&P 500, Nikkei 225, and MSCI Emerging Markets all exceeded their average monthly gains. Copper led commodity performance with an 8% rise, followed by strong moves in crude oil.
Despite Bitcoin’s quiet performance, analysts suggest this could be a setup for a July rally. With broader market sentiment turning positive, Bitcoin may follow the trend with a breakout above its current range.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
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