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Bitcoin reached its highest level ever this week. It reached $112,000, and held firm over the psychologically important $100,000. This breakout is a significant shift in the market structure after several weeks of bullish consolidation and steady momentum. It confirms that bulls now have full control. This move has rekindled optimism in the entire market. The sentiment is now overwhelmingly positive, as BTC returns to price discovery.
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The breakout wasn’t just technical—it was backed by strong positioning across derivatives markets. Data from Coinglass shows that Bitcoin’s heatmap of weekly liquidity reveals an intense cluster around $105,700. Some traders expect a short-term sweep of BTC into this area before it resumes its upward trend.
Both technical data and the on-chain data are aligned to further support an upward trend. The path of least resistence appears to be upwards as long Bitcoin remains above $100K, and dips are shallow. With liquidity, momentum, and macro sentiment aligning, the coming weeks could be critical as BTC sets the tone for the rest of the market—and potentially the start of a full-blown bullish phase.
Bitcoin is still strong in spite of tight market conditions
Bitcoin experienced another positive week. The cryptocurrency reached an all-time record of $112,000, before slightly easing back to maintain its position above the $100,000 threshold. The market has not yet become euphoric despite the recent strength. As macroeconomic conditions continue to be tight, a cautiously optimistic tone is dominant. High US Treasury yields are continuing to put pressure on risk assets.
Bitcoin is thriving in a high-stress market, while many altcoins are struggling. Capital continues to prefer BTC as a hedge over volatile, smaller assets. Bitcoin is a good macro-hedger, and this relative strength makes it even more so.
Ted Pillows, a top analyst and expert in the field of terrorism, added his expertise to the conversation by adding that data from CoinglassThe BTC heatmap shows a significant amount of liquidity at the level $105,700. Pillows believes that this cluster can act as a magnet for a brief period, suggesting that Bitcoin’s upward movement may resume soon after a swift sweep through that area.
“Liquidity at $105K is thick. A dip into that area could clear out late longs before the next leg higher,” He noted.
Bitcoin is holding its key levels while sentiments remain grounded. This setup favors a continued rise, although it may not be without some volatility. If BTC can defend the $100K–$105K range and reclaim $110K, the next push toward new highs may arrive sooner than expected. Bulls are still in charge for now but traders remain alert because global markets continue to be on edge.
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BTC holds above key averages
Bitcoin’s 4-hour chart shows it trading at $108,249 after pushing up to $112,000 in earlier weeks. BTC is consolidating over a convergence of moving averages including the 34 EMA (108,046) and 50 SMA (106,840) which all are in an upward trend. These levels are now dynamic support zones that keep short-term price structure bullish for as long as the price is above them.
BTC, despite the rejection at $112K has not sold off aggressively and is still respecting the recent mid-range breakout levels. The level of $103,600, which is marked with yellow, was previously used as resistance and a horizontal support. This level provides a solid base for any further corrections.
This pullback has seen a decline in volume, suggesting that this is merely a corrective selling phase and not the beginning of a new trend. The recent highs are likely to be retested if bulls maintain control over $106K.
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The trend of the last four hours remains unchanged. Bitcoin’s ability to hold its ground above the support clustered and build a new base for the subsequent leg up is the focus of all eyes.
Chart by TradingView. Image from Dall E.
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Source: www.newsbtc.com
