Bitcoin Surges 12% to New All-Time High of $112,000

Bitcoin has recently broken through its all-time highs, reaching $112,000 and maintaining its position above the crucial psychological level of $100,000. This breakout, following weeks of steady momentum and bullish consolidation, signifies a major shift in market structure, confirming the dominance of bulls. The market sentiment has turned decisively positive as Bitcoin enters a new phase of price discovery.

The breakout was not merely technical; it was supported by strong positioning across derivatives markets. Data reveals a dense cluster of liquidity around the $105,700 level, which could act as a short-term magnet. Some traders anticipate a brief sweep into this zone before Bitcoin resumes its upward trajectory. This environment favors bulls, with both technical levels and on-chain data aligning to support further upside. As long as Bitcoin continues to close above $100K and dips remain shallow, the path of least resistance appears to be higher. With liquidity, momentum, and macro sentiment aligning, the coming weeks could be critical as Bitcoin sets the tone for the rest of the market and potentially the start of a full-blown bullish phase.

Bitcoin posted another bullish week, reaching a new all-time high of $112,000 before pulling back slightly to hold above the key $100,000 level. Despite the strength, market sentiment has yet to flip fully euphoric. A cautiously bullish tone dominates as macroeconomic conditions remain tight, with high US Treasury yields and growing instability in global trade continuing to weigh on risk assets. Unlike many altcoins, which are still trading well below their previous cycle highs, Bitcoin appears to be thriving in this high-stress environment. Its resilience is being closely watched, as capital continues to favor BTC over smaller, more volatile assets. This relative strength reinforces Bitcoin’s status as a macro hedge, especially in uncertain economic conditions.

Top analyst Ted Pillows highlighted data showing significant liquidity sitting around the $105,700 level on the BTC weekly liquidation heatmap. According to Pillows, this cluster could serve as a short-term magnet, suggesting that a quick sweep of that zone may occur before Bitcoin resumes its upward move. “Liquidity at $105K is thick. A dip into that area could clear out late longs before the next leg higher,” he noted. With Bitcoin holding key levels and sentiment remaining grounded, the setup is favorable for continuation, but not without potential volatility. If BTC can defend the $100K–$105K range and reclaim $110K, the next push toward new highs may arrive sooner than expected. For now, bulls remain in control, but traders are staying alert as global markets remain on edge.

Bitcoin is trading at $108,249 on the 4-hour chart after a strong push to $112,000 earlier in the week. The chart shows BTC currently consolidating above a confluence of key moving averages, including the 34 EMA ($108,046), 50 SMA ($106,840), and 100 SMA ($105,109), all of which are trending upward. These levels now serve as dynamic support zones, keeping the short-term structure bullish as long as price remains above them. Despite the rejection near $112K, BTC has avoided any aggressive selloff and continues to respect the mid-range levels of its recent breakout. The $103,600 level, marked in yellow, is a key horizontal support and previously acted as a resistance ceiling. It now provides a strong base if any deeper correction occurs.

Volume has declined during this pullback phase, indicating that the selling pressure is likely corrective rather than the start of a trend reversal. If bulls can maintain control above $106K and reclaim momentum above $110K, a retest of the recent highs is likely. For now, the 4-hour trend remains intact. All eyes are on whether Bitcoin can hold above the clustered support and continue building a base for the next leg higher.