Bitcoin Surges 2% to $109,600 as UK Pension Sector Endorses Crypto

Bitcoin (BTC) is currently trading near $109,600, experiencing a 2% gain in the past 24 hours. This surge follows a significant endorsement from the UK pension sector, where Cartwright Pension Trusts, a UK-based advisory firm, assisted a client in allocating 3% of its portfolio to BTC in late 2024. This investment has yielded a 60% return in less than a year, outperforming most traditional asset classes. Cartwright Pension Trusts, which maintains no direct Bitcoin exposure, positions itself as a neutral, data-driven advisor.

In response to the growing interest from its clients, Cartwright has launched its first “Annual Bitcoin Review.” This dedicated research report aims to educate corporate treasurers, defined benefit schemes, and long-term investors about Bitcoin’s utility, volatility, and evolving macro relevance. Nasri, a representative from Cartwright, emphasized the firm's fiduciary duty to raise awareness of Bitcoin’s impact on individuals, asset owners, and governments.

While Cartwright’s move has garnered attention, the broader UK pension sector remains cautious. Volatility is a significant concern, with many funds hesitant to embrace crypto’s price swings. However, Nasri argues that portfolio construction should accommodate volatility rather than avoid it. He noted that interest in Bitcoin is expanding beyond pensions, with charities exploring BTC as a donation vehicle and corporate clients assessing its use in 24/7 cross-border payments and as a treasury diversification tool.

Nasri clarified that Bitcoin is not suitable for all investors, especially those with short time horizons. However, he called it a viable fit for long-term allocations, particularly within defined benefit and contribution plans. The Bitcoin price outlook remains bullish, supported by both fundamental and technical indicators. The asset has reclaimed the $108,600 level and is holding well above the 50-period EMA at $107,302. A rising trendline from June 23 remains intact, while price recently printed a bullish engulfing candle, signaling renewed upside strength.

Key technical signals include the MACD crossing above zero with a rising histogram, immediate resistance at $110,413, and support at $108,600 and $107,300. A beginner-friendly trade setup suggests buying on a breakout above $110,413 or a dip toward $108,600, with a stop-loss below $107,100 and targets at $111,778 and $113,255. Bitcoin’s latest rally is not just technical; it is supported by growing institutional credibility. As traditional asset managers and pension advisors like Cartwright step in, the case for long-term Bitcoin exposure is becoming harder to ignore. With macro tailwinds and price action aligning, BTC looks ready to test higher levels into mid-July.