Bitcoin breaks resistance amid strong ETF inflows
Market Overview
Bitcoin recently reached $111,970.17 all-time high, now trading at $108,853.40 (-0.5%). Price action shows a bullish rising channel pattern after oscillating between $105,000-$110,000 since late June, with potential cup-and-handle formation developing.
Key Drivers
ETF holdings surged from 527,000 to 630,000 BTC in three months, despite recent $342M outflow on July 1-2. Corporate accumulation reached 245,000 BTC in H1 2025-double ETF inflows. Supporting macro factors include 50+ rate cuts by G20 central banks and anticipated Fed rate cut later this year.
Trading Considerations
Key levels:
Resistance: $110,000-$110,500, $114,000
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Support: $109,500, $108,000, stronger at $106,000-$107,000
Price targets: $112,000-$115,000 by August, potentially $135,000+ year-end if inflows persist.
Community Sentiment
Binance Square shows 77.93% bullish
sentiment focused on ETF support and key levels, while bearish views center on liquidity and regulation.Relevant insights:
ETF inflows
Technical signals
Resistance analysis
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Hosting
Consider dips to $108,000-$109,500 as potential entries for $114,000 retest.
