Bitcoin Closes Week at Record $109,240, Bullish Momentum Intact

Bitcoin (BTC) has continued to make history with another record-breaking weekly close, indicating strong bullish momentum as traders anticipate new all-time highs. The cryptocurrency's latest weekly close at approximately $109,240 on Bitstamp marks the highest ever recorded, consolidating gains from the previous month and signaling strong bullish control. This milestone has been met with optimism from market commentators, who assert that bulls are firmly in charge and anticipate a continuation toward new all-time highs within July.

Market participants are closely watching key liquidity levels around $105,000 and $110,000, which could dictate short-term price movements and potential entry points. Analyst CrypNuevo points out that the $105,000 level aligns with the 50-day exponential moving average (EMA), making it a strategic entry point for investors anticipating a short-term dip before a renewed rally. This dynamic suggests that while Bitcoin’s trajectory remains upward, traders should prepare for possible retracements to absorb liquidity and fuel subsequent advances.

Technical analysis reveals that Bitcoin’s monthly price behavior often sets highs or lows within the first 12 days, followed by significant directional moves exceeding 20%. This pattern, observed by trader Daan Crypto Trades, implies that the current consolidation phase may precede a decisive breakout. Additionally, order book data underscores the importance of the $110,000 resistance and $107,800 support levels in shaping near-term market dynamics.

Meanwhile, funding rates on major exchanges are declining even as prices rise, indicating a growing number of short positions. This divergence between price action and trader sentiment could trigger forced liquidations, potentially accelerating Bitcoin’s upward momentum. This setup often precedes sharp rallies, as bearish bets are squeezed out of the market.

While Bitcoin’s technical setup remains strong, macroeconomic factors continue to influence market sentiment. The upcoming release of the Federal Reserve’s June meeting minutes is expected to provide clarity on interest rate policies, which have diverged from political pressures advocating for rate cuts. Despite these uncertainties, dollar weakness has emerged as a supportive factor for risk assets, including Bitcoin. The U.S. Dollar Index (DXY) has declined over 10% in 2025, marking its worst start since 1973, which has bolstered investor appetite for alternative assets.

Sentiment indicators reveal a growing disconnect between market exuberance and economic fundamentals. The Crypto Fear & Greed Index has climbed to 73/100, its highest level since late May, reflecting heightened bullish sentiment within the crypto community. Such elevated greed levels often precede market reversals but can also fuel sustained rallies when supported by strong fundamentals. The current environment suggests that while investors are optimistic, caution remains warranted given the broader macroeconomic backdrop.

Bitcoin’s recent record weekly close and proximity to key liquidity zones underscore a robust bullish trend supported by favorable technical and sentiment indicators. The interplay between declining funding rates and rising prices hints at a potential short squeeze, which could propel BTC toward new all-time highs. However, macroeconomic factors such as trade tariffs and Fed policy continue to inject uncertainty, reminding investors to remain vigilant. Overall, Bitcoin’s market structure and investor behavior suggest a cautiously optimistic outlook as July unfolds, with strategic entry points around $105,000 offering compelling opportunities for disciplined traders.