Here’s the latest trading update on Bitcoin:
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📈 Bitcoin Momentum & Trading Levels
Price action: BTC is hovering around $109,580, with an intraday high of $110,249 and low of $108,616 .
Breakout above $110K: Recently surged past the $110K mark (+3–4%), triggering a short squeeze where $195–203 M in short positions were liquidated .
**“Peaceful rally”**: CoinDesk describes the move as calm yet decisive, with buyers stepping in steadily at dips .
Resistance near $110K–111K: BTC remains just under its all-time high (~$111.8K) and is testing this critical zone .
Caution in indicators: Techs like RSI and correlation to stocks signal possible weakness—some analysts warn of a “fake-out” above $109K unless it holds as support .
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🔍 What’s Next? Key Scenarios
Scenario Description Target
Bullish If BTC holds above $110K, runway to $115K+, maybe even $120K this quarter $115K–120K
Pullback risk Failure to sustain above $110K may trigger drop toward $106–108K (38.2% fib), or deeper into $100K zone $100K–108K
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🌐 Macro & On‐Chain Drivers
Institutional demand: Fresh ETF inflows and whale activity reinforce the bullish bias .
Macro backdrop: Easing US–China trade tension and supportive Fed outlook give tailwinds .
