Current BTC market price is $107,053, rebounding as expected, but the upper space is constrained by technical and news factors, with the top likely at $112,000-$115,000. Strong technical resistance: $110,600-$111,000 is a dense selling pressure zone, with multiple failed attacks in June. $112,000 is the historical high; breaking it is needed to open new upward space, otherwise, it may trigger profit-taking sell-offs. On-chain selling pressure signals: Long-term holders recently transferred $420 million BTC to exchanges, marking the fifth largest record since February; such behavior often appears before price peaks. Net inflow of BTC to exchanges has increased, with whale addresses showing strong selling intentions around $111,000. News catalysts: Positive: The US Ethereum ETF has seen a net inflow for 15 consecutive days ($40.3 million), and the Bitcoin ETF also attracted $1.04 billion last week; if this continues, it could push prices higher. Negative: The Federal Reserve kept interest rates unchanged in June, with rate cut expectations postponed to the second half of the year, and liquidity has not been eased. If the conflict between the US and Iran escalates, it may test the $100,000 support again.
Conclusion and recommendations
Consider reducing positions in batches if it rebounds to $112,000; if it breaks through, watch for $115,000 (a dense area for short liquidation). Be cautious of a pullback to $104,500 if it falls below $106,000 (50-day moving average).
In one sentence: The previous high is hard to break, take profits when it's good! Valuable insights in the crypto world, click on my profile to follow me and learn more. Enjoy the deployment of potential hundred-fold coins in a bull market and daily spot strategies!
