Bitcoin Surges Past $105K, Eyes $110K Target Amid Bullish Signals

Bitcoin (BTC) has recently surged past a critical resistance zone, sparking speculation about its next major milestone. Analysts are predicting that $110,000 could be the next significant target, fueled by bullish technical patterns and on-chain data. The cryptocurrency's price structure suggests a promising outlook, but there are a few caveats to consider.

According to a recent report, Bitcoin long-term holders are not distributing their holdings, indicating a quiet accumulation phase. The lack of spikes in Dormancy flow reduces sell pressure from old coins, which could be a bullish signal for the token. Data from Glassnode shows minimal spending by long-term holders for the first time since June 10, with the supply near all-time highs at around 14.7 million BTC. This signals conviction among seasoned investors who remain reluctant to distribute despite recent market volatility. Previously, minimal long-term holder selling occurred post-March 2020, setting the stage for explosive rallies.

Bitcoin volatility has dropped below that of gold for the first time ever, signifying a historic shift in finance. This suggests that the star token is maturing and the market is recognizing it. As adoption grows and institutional confidence deepens, BTC could start to behave less like a wild rollercoaster and more like a stable store of value. With the BTC price reclaiming $105K and funding rates turning negative, there has been a classic setup for a short squeeze. With shorts piling in, history suggests an upward move could be imminent for Bitcoin.

In the long term, the BTC price has approached a crucial resistance zone, suggesting a major breakout is underway. Previously, when the price reached the final resistance zone between $69,400 and $72,150, the weekly CMF dropped below the average and triggered a rebound, similar to what happened before the Q4 2024 rally. The weekly MACD, which was on the verge of undergoing a bearish crossover, has displayed a bullish divergence. Therefore, the Bitcoin (BTC) price is expected to accumulate along the resistance zone for a couple of weeks until the buying volume intensifies, followed by a breakout to a new ATH.

The technical indicators suggest that Bitcoin is poised for a new all-time high (ATH). According to one analyst, there is a 75% chance that Bitcoin will reach a new ATH. This prediction is based on the cryptocurrency's recent price action, which has shown strong bullish momentum. The analyst's forecast is supported by the fact that Bitcoin has surpassed $85,000, a level that has historically been a strong resistance zone. However, not all analysts are in agreement. Some predict a potential dip to $92,000, while others anticipate a surge to $135,000. This divergence in opinions highlights the uncertainty surrounding Bitcoin's future price movements. Despite the differing views, the overall sentiment remains bullish, with many traders expecting a significant breakout in the near future.

The recent price action has also led to speculation about the timing of the next ATH. While predicting an exact date is impossible, the July–September 2025 window provides a reasonable timeframe for a potential breakout. This period is seen as a critical juncture for Bitcoin, as it coincides with several key events in the cryptocurrency market. The current market structure includes a clearly identified bullish channel that recently broke out upward. This breakout typically indicates a continuation of bullish momentum, reinforcing the likelihood of testing the all-time high. Such technical patterns, coupled with institutional liquidity dynamics, strengthen this scenario. The concept of price magnets further supports this bullish outlook. Price magnets refer to specific price levels or zones that appear to attract price action. In the current scenario, the all-time high serves as such a magnet. Higher liquidity naturally accumulates at psychologically significant and historically notable price points, like all-time highs or round numbers. Traders place more orders at these levels, driven by various strategies like profit-taking, entering new longs upon breakout confirmation, or short-covering. The psychological impact of these levels further enhances their magnetism, as traders and investors gravitate towards simple and memorable price levels. The collective expectation around these key price levels further enhances their magnetism. When many market participants anticipate a price reaching a particular level, their collective orders actively create the conditions to make it happen.

The recent bullish breakout has reinforced the likelihood of testing the all-time high. The market's reaction to geopolitical developments further underscores this bullish stance. Notably, price movements often precede official announcements or broader market awareness, reinforcing the adage that "price knows." Traders considering short positions at this juncture should exercise extreme caution. The market structure and current momentum strongly suggest upward movement, at least towards the all-time high. Closely monitor key support levels for risk management and potential stop-loss placements. Utilize professional analytical methodologies—such as volume profile analysis, POC, and VAH—to better gauge market dynamics rather than relying solely on traditional moving averages or candlestick patterns. Always trade and invest at your own risk, applying rigorous risk management practices and disciplined execution. Stay informed and prepared as we closely approach potentially historic market levels in the Bitcoin market.