Bitcoin Breaks All-Time Highs, Reaches $112,000 Amid Strong Liquidity
Bitcoin reached an all-time high of $112,000 this week, maintaining a position above the psychological threshold of $100,000. This breakout signifies a shift in market control towards bulls, with positive sentiment prevailing as Bitcoin enters price discovery.
Key points include:
- Strong positioning in derivatives markets supports the breakout.
- High liquidity around $105,700 may attract traders for a short-term sweep before continuing upward.
- Market sentiment is cautiously bullish despite tight macroeconomic conditions.
- Capital is favoring Bitcoin over altcoins, reinforcing its role as a macro hedge.
- Analyst Ted Pillows indicates liquidity at $105K could prompt a dip before further gains.
Bitcoin is currently trading at $108,249, consolidating above key moving averages: 34 EMA ($108,046), 50 SMA ($106,840), and 100 SMA ($105,109). These levels offer support as long as prices remain above them. The recent pullback has seen declining volume, suggesting corrective selling rather than a trend reversal.
If Bitcoin maintains its position above $106K and reclaims momentum above $110K, a retest of previous highs is likely. The focus remains on holding key support levels for continued upward movement.
