Bitcoin Breaks $108K Barrier, Bullish Momentum Points to New Highs

• Bitcoin is now consolidating above $108K after a strong liquidity sweep.
• Analysts expect breakout continuation to reach $120K if the trend holds.

Bitcoin is showing renewed strength as it breaks through a major resistance zone. After clearing a critical resistance zone between $106,500 and $107,000, Bitcoin broke above the $108,000 level. 

Market analyst Michaël van de Poppe’s recent analysis shows that the move followed a liquidity grab on lower timeframes, which helped trigger the rally. This upward breakout flipped the market structure and pushed Bitcoin into consolidation above $108,000.

The price also tapped liquidity near $109,000 before a minor pullback, which van de Poppe described as a healthy retest. He identified strong support between $103,500 and $105,000, where bullish accumulation appears to be underway. If current buying pressure continues, he suggested Bitcoin could reach a new all-time high within one to two weeks.

Current Price Action Reflects Bullish Stability

At the time of writing, Bitcoin is trading at $109,333.78, up 2.01% over the past 24 hours. The price is consolidating just below key resistance at $109,460, with strong volume backing the upward move. Support remains firm around $106,980, highlighting the growing base for buyers.

Price action reflects a steady uptrend as Bitcoin tests its recent highs. Market data shows that momentum is favoring bulls, with consolidation patterns suggesting a possible breakout continuation.

June’s Underperformance May Set Up July Rally

Ecoinometrics data has shown that Bitcoin posted relatively flat returns in June 2025 compared to its 12-month average. While the price held steady, it underperformed major asset classes, including equities and commodities. 

Stock indices like the S&P 500, Nikkei 225, and MSCI Emerging Markets all exceeded their average monthly gains. Copper led commodity performance with an 8% rise, followed by strong moves in crude oil.

Despite Bitcoin’s quiet performance, analysts suggest this could be a setup for a July rally. With broader market sentiment turning positive, Bitcoin may follow the trend with a breakout above its current range.