Bitcoin Nears Breakout After 224 Days of Consolidation

Bitcoin is currently at a critical juncture, with technical, on-chain, and macro indicators all signaling a strong bullish phase. The cryptocurrency has been trading within a tight range for over 224 days, a period that has seen significant pressure build for a potential breakout. This consolidation phase mirrors previous periods, such as the 224 days at $25,000 and 245 days at $50,000, where Bitcoin eventually broke out to new highs. The current range has lasted approximately 224 days, with the weekly resistance level just ahead, indicating a potential breakout moment.

Two high-probability scenarios are emerging for the short term. The first is a clean breakout above $113,000, which could propel the price straight toward $120,000 or higher. However, this scenario could also trigger rapid parabolic exhaustion, leaving late buyers exposed. The second scenario is a healthy shake-out, where the price pulls back to $90,000–$93,000. This pullback would be driven by liquidity sweeps and CME gap filling, fortifying the structure and cleansing leveraged speculative positions. Many traders are already placing spot and long orders in this range, anticipating a powerful bounce. Dips to $93,000 are not bearish; they are strategic resets that could set the stage for a stronger rebound.

From a macro perspective, whales are accumulating, the M2 money supply is expanding, and Bitcoin remains undervalued relative to broader macro trends. The long-term structure remains bullish, with a breakout toward the $120,000–$150,000 zone appearing increasingly likely over the next few months. Bitcoin continues to follow a historical pattern of consolidation followed by explosive growth. The current sideways movement, which has lasted approximately 224 days, suggests that a breakout might be imminent. This quiet buildup potentially sets the stage for a significant price movement.

Whale inflows have surged while retail demand has dipped, setting the stage for a potential Bitcoin breakout above $111,000 and a powerful short squeeze. A crypto analyst gaining traction for timely Bitcoin calls is outlining a scenario where Bitcoin breaks free from sideways trading and surges to new all-time highs. The break of Bitcoin above 100,000 on the monthly chart, a broader MACD gap, and a rising dominance indicate strong long-term bullish confidence. Bitcoin continues to dominate headlines, as its price holds firmly above six figures. However, with its upside potentially priced in, many investors are cautious about the future price movements. Bitcoin prices are currently hovering above $107,000 following a bullish trading week during which the premier cryptocurrency gained by 4.89%.

Declining open interest signals a healthy market reset and potential for upward movement. Data revealed that open interest (OI) on Binance didn’t rise with the price. Instead, it declined. That means traders are pulling back on leverage. At the same time, a liquidation cluster formed around $104,000, where long positions were wiped out when the price dipped. Liquidations often clear the path for stronger hands to take control. Plus, the recent decision to leave interest rates steady adds a quiet boost. When rates stay flat, risk assets like Bitcoin tend to breathe easier. On June 20, BTC hovered just below $105,000. Michael van de Poppe, founder of MN Capital, noted this as a bullish sign. He highlighted the $108,000 resistance level as the key line to watch. If bulls break through, we could see a rush to new highs. There’s another clue in the data. Bitcoin’s short-term holder MVRV returned to its average line, even as price hovered near highs. That means there’s no sign of mania. No overexcitement. Just calm, steady strength. This kind of setup doesn’t last forever. It’s like watching storm clouds gather on the horizon. You can feel something coming, even before the first drop falls.

Bitcoin may still be moving sideways, but pressure keeps building. History shows that long periods of quiet often end in sudden, violent moves. When BTC breaks out of the box—whether it’s today, next week, or next month—the move will likely be fast and aggressive. And if the pattern repeats, it could all happen in just a matter of weeks. Key resistance at $108,000 could trigger Bitcoin’s next major price surge. Bitcoin has been in a consolidation phase for over 220 days, with its price movement confined within a specific range. This period of sideways trading is not uncommon for Bitcoin, as it has historically spent extended periods in similar price "boxes" before breaking out to new highs. The current consolidation phase has lasted approximately 224 days, and Bitcoin is now approaching a critical technical point: its final major weekly resistance level. This resistance zone has previously acted as a ceiling, capping prices and preventing further upward movement. However, if Bitcoin can successfully break through this resistance, it could pave the way for new all-time highs.