Bitcoin Nears $110,000 as Analysts Predict New All-Time High

Bitcoin (BTC) has been steadily moving within the $100,000 to $110,000 range, with its weekly Relative Strength Index (RSI) climbing towards the upper trendline. This development has sparked optimism among analysts who see potential for a bullish breakout and a new all-time high (ATH) in the near term.

Seasoned crypto analyst Titan of Crypto noted that Bitcoin still has momentum, pointing to a strong market structure characterized by higher highs and higher lows. The analyst highlighted that Bitcoin’s weekly RSI is approaching its upper trendline after rebounding from the lower end of the range in April 2025. Historical data suggests that BTC prices often peak when the weekly RSI touches this upper boundary.

The RSI is a momentum indicator that measures the speed and magnitude of an asset’s price movements, ranging from 0 to 100. Values above 70 typically indicate overbought conditions, while those below 30 suggest oversold territory. If Bitcoin follows its historical patterns, it could be on track for a new ATH of around $140,000. As of now, BTC is trading approximately 4.7% below its current ATH of $111,814, set on May 22.

Other analysts also point to potential upside for Bitcoin. Rekt Capital noted that Bitcoin has fully confirmed a breakout from its monthly range, suggesting that buy-side volume could step in to facilitate trend continuation. The analyst added that additional retesting of the range high might occur to grab extra buy-side liquidity and fuel the next uptrend.

Analyst Jelle highlighted a bullish setup on Bitcoin’s chart, noting a bullish engulfing candle and a potential breakout from a symmetrical triangle structure. They also pointed out that BTC might benefit from a negative funding rate, which indicates bearish sentiment in the market. This can be bullish for Bitcoin, as it raises the chances of a short squeeze and a potential price rebound.

Investors should remain cautious and watch for signs of bull market fatigue, which could lead to a short-term pullback. At the time of reporting, BTC is trading at $106,665, down 1% over the past 24 hours. The overall sentiment remains bullish, with analysts closely monitoring the weekly RSI and other technical indicators for further clues on Bitcoin’s next move.