The world’s largest crypto reached an intraday high of $110,653 from a daily low of $105,426 earlier in the day during Asia and UK trading sessions. As of press time, Bitcoin was trading at $110,200, up 4.10% over the past 24 hours.
On-chain data shows that BTC reserves on centralized exchanges continue to decline, suggesting reduced selling pressure even as prices rise. The latest move may also restore investor confidence after the asset failed to hold above $108,000 in earlier sessions this week.
While volatility remains elevated, the $110,000 breakout could set the stage for a push toward $115,000 and eventually $120,000 if macro conditions remain favorable, which would put BTC in line with Standard Chartered’s projections for the second quarter.
