Bitcoin finally surpassed its previous all-time highs this week, reaching $112,000 and maintaining its stability above the key psychological level of $100,000. After weeks of steady momentum and bullish consolidation, this breakout represents a significant shift in the market structure, confirming that the bulls are fully in control. This move has rekindled market optimism, with sentiment shifting decisively as Bitcoin enters another price discovery phase.
The breakout was not only technical but also supported by strong positioning in the derivatives markets. According to data from Coinglass, Bitcoin's weekly liquidation map reveals a dense liquidity cluster around the $105,700 level. This area could serve as a short-term attraction point, as some traders anticipate a quick sweep of that region before Bitcoin resumes its upward trajectory.
This environment now leans towards the upside, as both technical levels and on-chain data support further gains. As long as Bitcoin continues to close above $100,000 and the pullbacks remain shallow, the path of least resistance seems to be higher. With liquidity and momentum in harmony and macroeconomic sentiment, the coming weeks could be crucial as Bitcoin determines the path for the rest of the market - and perhaps the beginning of a broader bullish phase.
■ Bitcoin remains strong amid challenging conditions
Bitcoin has seen another bullish week, reaching an all-time high of $112,000 before pulling back slightly to settle above the key $100,000 level. Despite this strength, market sentiment has not yet shifted to a state of complete euphoria. A cautious bullish tone dominates the market as macroeconomic conditions continue to tighten, with rising yields on U.S. Treasury bonds and increasing instability in global trade negatively impacting risk assets.
Unlike many altcoins, which are still trading significantly below their previous cycle highs, Bitcoin appears to be thriving in this highly tense environment. Its resilience is under close scrutiny, as capital continues to favor Bitcoin over smaller and more volatile assets. This relative strength reinforces Bitcoin's position as a comprehensive hedge, especially amid unstable economic conditions.
Chief analyst Ted Pillows contributed to the discussion by highlighting data from Coin Glass, which shows significant liquidity at the $105,700 level on Bitcoin's weekly liquidation map. According to Pillows, this cluster could act as a short-term magnet, suggesting that a quick sweep of that area could occur before Bitcoin resumes its upward movement.
Liquidity at the $105,000 level is dense. A drop to this level could potentially liquidate late buyers before the next upward wave.
With Bitcoin stabilizing at its key levels and sentiment remaining steady, the outlook suggests continuity in the market, though not without potential fluctuations. If Bitcoin can defend the range of $100,000 - $105,000 and reclaim $110,000, the next surge could reach new all-time highs sooner than expected. Currently, the optimists still dominate the market, but traders remain cautious as global market tensions persist.
■ Bitcoin stabilizes above key averages
Bitcoin is trading at $108,249 on the four-hour chart, following a strong rise to $112,000 earlier in the week. The chart shows that Bitcoin is currently consolidating above the convergence of key moving averages, including the 34-period exponential moving average ($108,046), the 50-period simple moving average ($106,840), and the 100-period simple moving average ($105,109), all of which are trending upwards. These levels now form dynamic support zones, keeping the short-term structure bullish as long as the price remains above them.
Despite rejecting near $112,000, Bitcoin's price has avoided any intense sell-offs and continues to hold onto the mid-levels of its recent breakout. The $103,600 level, highlighted in yellow, serves as a key horizontal support, having previously acted as a resistance ceiling. It now provides a strong base in case of any deeper correction.
Trading volume has decreased during this pullback phase, suggesting that selling pressure is likely corrective rather than the beginning of a trend reversal. If the bulls can maintain control above $106,000 and regain momentum above $110,000, a retest of the recent highs is likely.
