Bitcoin Surges 2% to $112,800 on Institutional Flows

Bitcoin has surged past a new short-term high, reaching $112,800 on Binance after breaking through the $110,500 resistance level early Wednesday. This move signals renewed market strength and follows weeks of steady gains, driven by strong institutional flows and continued enthusiasm for exchange-traded funds (ETFs).

Technical analysis indicates that Bitcoin has reclaimed the $106,500 zone, with immediate support at $110,500 confirming strong buying pressure. This breakout pattern suggests a continued bullish structure if current support levels hold. Analysts, including technical trader Michaël van de Poppe, believe that this breakout could lead to new all-time highs, targeting $150,000 within the third quarter if momentum is maintained. Van de Poppe highlighted strong liquidity areas below $105,500, which could offer reaccumulation zones in case of short-term pullbacks.

Market sentiment remains positive as long as Bitcoin stays above $110,000. Momentum indicators like the Relative Strength Index (RSI) continue to rise, suggesting sustained strength. However, a drop below $100,000 could signal a temporary retracement before another leg higher. For now, technical conditions favor further upside, supported by demand from long-term holders and institutional buyers.

ETF inflows and treasury purchases continue to fuel the upward price momentum. Both Bitcoin and Ethereum have seen renewed accumulation from large holders, creating momentum across the broader crypto market. Ethereum hit a 24-hour high of $2,823 before settling around $2,805, gaining over 1% in the same period. Analysts attribute ETH’s rise to fresh whale withdrawals, increased institutional interest, and upcoming network upgrades.

Both assets now trade with strong volume and rising open interest, pointing to dominant participation by large players. As Bitcoin builds support above $110,000, short-term bullish conditions appear intact. However, analysts caution that high RSI readings could bring short corrections. Traders will watch for consistent volume and whether key support zones hold under pressure.

For now, crypto markets remain in an uptrend, with Bitcoin leading the charge. With the third quarter just underway, the next few weeks may confirm whether this breakout can carry Bitcoin higher. Analysts now target $150,000 in the third quarter if Bitcoin holds above the $110,000 support level.