Bitcoin Nears Record High: Will It Break $103,332?
Bitcoin (BTC) is charging toward its all-time high of $103,332, set in December 2024, with a current price of $98,500, up 27% since April 7, 2025. Fueled by institutional inflows and global liquidity, analysts predict a breakout. Here’s a technical deep dive into BTC’s trajectory.
The weekly chart shows BTC forming three consecutive bullish candlesticks, testing the 0.618 Fibonacci retracement resistance at $96,500. A breakout above this level could confirm a bullish trend, targeting $108,300, per the bull flag pattern on the 4-hour chart. The RSI sits at 68, shy of overbought (70), suggesting room for growth. The MACD’s bullish crossover supports upward momentum, while Glassnode reports a 14-day momentum indicator jumping to 82.1, a historically bullish signal.
On-chain data reveals $2 billion in U.S. Bitcoin ETF inflows over seven days, with BlackRock’s IBIT leading at $1.7 billion. Corporate accumulation and a supply squeeze from the April 2024 halving bolster demand. However, a bearish ascending wedge on the daily chart warns of a potential pullback to $94,000 if resistance holds.
X posts reflect optimism, with @mikealfred forecasting $109,000, citing weak bearish resistance. Yet, @woonomic cautions that short-term dips are possible, advising to buy pullbacks.
Traders should monitor the $96,000–$98,000 resistance zone. A daily close above $103,332 could spark price discovery, potentially hitting $115,000, a 17% gain. If rejected, $90,000 offers strong support. With ETF flows and halving effects.
