Bitcoin Nears All-Time High — Will It Crack $112K This Week?
Bitcoin (BTC) is currently trading around $109,100, hovering close to its record high of approximately $112,000 set last month .
. After a 1.3% daily rise, BTC is just ~2% shy of all-time highs, riding on optimism following softer-than-expected U.S. inflation data (May CPI at 2.4% vs. expectations).
Institutional demand—evidenced by growing Bitcoin ETFs (now topping $132 billion in AUM)—has bolstered the rally, while a weakening dollar and dovish Fed expectations add fuel.
Bitcoin now closely tracks the broader markets, especially tech stocks, reinforcing the current bullish momentum .
Resistance: $110K → $112K (record high)
Support: $107K → $105K
Technical indicators show a breakout from a bullish flag pattern and a favorable RSI, hinting at more upside if volume holds.
With the June 12 U.S. CPI report on the horizon, volatility may spike. A dip below $107K could invite a pullback, but a confirmed breakout above $112K might open the path to $115K–$120K.
Do you think BTC will break $112K this week? Or is a pullback due? Share your prediction! 👇
