Bitcoin Tests New Highs Above 107K

Market Overview

Bitcoin trades at $109,860.05 (+1.89%), consolidating in the $107,000-$110,000 range after briefly touching $110K. Technical indicators remain bullish with $2.18T market cap and 63.36% dominance. Support levels established at $105K while resistance clusters near $112K show increasing momentum despite high volatility.

Price Breakthrough

Key Drivers

Institutional adoption continues with BlackRock's ETF outperforming traditional assets. The $7.1B in short positions creates potential for a squeeze above $120K. Historical July patterns favor upward movement, while regulatory developments including the GENIUS Act provide clarity for institutional investors.

ETF Capital Inflows

Trading Implications

Break above $112K could target $125K-136K by mid-July. Watch MACD/RSI for momentum confirmation Hua BNB -short ratio (USDT: 1.08) for excessive Hosting signals. Consider partial profit-taking at resistance zones while maintaining core positions for potential breakout continuation.$BTC $ETH $XRP #BTC #ETH #Xrp🔥🔥