Bitcoin Surges 90% to $110,000 on Institutional Interest

Bitcoin has surged past the $110,000 mark, marking a 3-week high as institutional interest in the cryptocurrency revives. The leading cryptocurrency has seen a nearly 90% increase from its June low near $58,000, driven by consistent inflows into spot Bitcoin ETFs and a broader risk-on shift in global markets. On the technical front, Bitcoin has broken above key resistance at $108,000, with bullish momentum supported by rising RSI and MACD crossover. Analysts now eye $115,000 as the next major target, provided macro tailwinds persist.

One of the primary drivers behind Bitcoin’s price spike is the continued inflow into the spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust remains a major contributor, consistently attracting large institutional investments. These steady inflows indicate growing confidence among traditional finance players, further legitimizing Bitcoin as a store of value and investment vehicle. Additionally, softer-than-expected ADP employment data in the US has fueled expectations of potential Federal Reserve interest rate cuts. This prospect has encouraged a broader shift toward risk-on assets, with Bitcoin benefiting as a high-beta alternative investment.

Now that the price is close to its all-time high, investors continue to hold rather than spend, suggesting confidence in the upcoming price action. The daily chart of Bitcoin indicates that the price has risen above the bearish influence as it surges above the resistance of the Gaussian Channel. This move is reminiscent of mid-April, which resulted in a 20% upswing. The price is attempting to break above the pivotal resistance zone, and a successful breach could result in a new all-time high for the Bitcoin price rally. The rising RSI from the average range hints at the growing strength of the rally.

Considering the current chart patterns and market conditions, the peak of the current Bitcoin price rally could be around $125,000, potentially achieved during Q4, 2025. The recent rebound to $107,000 was bolstered by significant BTC Spot ETF inflows, highlighting the growing institutional interest in Bitcoin. Additionally, Bitcoin's price has been hovering around $107,800, nearing a key resistance at $114,000. If this resistance is broken, analysts are eyeing a potential 25% rally toward $143,000. The most recent halving in April 2024 has also aligned with a potential peak by the first or second quarter of 2025, adding to the bullish sentiment. The psychological resistance zones, particularly the $100K–$113K range, are seen as critical levels that could influence the price trajectory. Overall, the current market dynamics and ETF inflows suggest a strong bullish outlook for Bitcoin, with the potential for significant price appreciation in the near future.