Bitcoin is up 45% since bottoming out near $75,000 in April and is now trading just under 4% away from its all-time high of $112,000. After weeks of consolidation and multiple failed breakout attempts, the market is entering a critical phase. Price action in the coming days will likely determine the next major move—either a clean push into price discovery or a pullback into key support levels around $103,600 and $100,000.
Momentum has been building steadily, with bullish sentiment returning as macro conditions stabilize. However, investors remain cautious, awaiting confirmation from Bitcoin’s price structure before making aggressive moves.
The crypto market is heating up alongside US equities, which recently surged to new all-time highs. As macroeconomic uncertainty fades and risk appetite returns, Bitcoin sits at a pivotal moment. Bulls remain in control after a 45% rally from April’s $75K low, but to confirm the next leg up, BTC must decisively break into price discovery above the $112K resistance level.
Currently, this value stands at -17%, indicating a marked drop in activity. That may seem bearish on the surface, but it mirrors the conditions seen in September 2024, just before a major rally began. The logic is simple: when fewer coins move and supply becomes more static, a tightening effect builds. Once demand returns, it often leads to sharp upward moves.
In short, the low activity hints at a potential breakout window. Bitcoin is consolidating just below its all-time high, supported by favorable macro conditions and low on-chain velocity. If history is any guide, a sudden surge in activity—triggered by a move into new highs—could mark the beginning of the next expansion phase. All eyes are now on BTC’s next move.
Bitcoin’s weekly chart shows continued strength as price action consolidates just below the $112,000 all-time high. At the time of writing, BTC trades near $107,795, comfortably above the critical support zone at $103,600 and showing consistent higher lows since April. The 50-week moving average is rising sharply and now sits at $85,961, well below the current range, reinforcing the medium-term uptrend.
Despite recent rejections near the $109,300 resistance, bulls have defended weekly closes above $100K and maintained momentum within a tight bullish flag structure. Volume has tapered off slightly, suggesting that traders are waiting for confirmation before committing to large positions. However, the lack of aggressive selling pressure indicates that market participants expect a breakout rather than a breakdown.
If BTC breaks and closes above $109,300 on the weekly timeframe, the move would likely trigger stop orders and momentum-driven buying, pushing the price into uncharted territory. A failure to break resistance could result in another retest of the $103,600 level, which has acted as a strong floor throughout Q2 2025.
Featured image from Dall-E, chart from TradingView
