Bitcoin is on the verge of reaching new all-time highs after securing its highest-ever weekly close.
- Bitcoin traders are watching closely for either a breakout into price discovery or a “false move” designed to grab liquidity around the $105,000 level.
- July ended with a record-setting weekly close, placing the spotlight on the “final resistance” as the next major target for bullish momentum.
- On the macro front, U.S. trade tariffs dominate headlines, while a weakening dollar continues to support relief in risk assets.
- Despite rising prices, Bitcoin funding rates are falling—hinting at the potential for a short squeeze.
- Meanwhile, investor sentiment is heating up, with the Fear & Greed Index entering “extreme greed” territory, even as macroeconomic uncertainties persist.
Bitcoin liquidity targets include a potential dip toward $105,000
After a brief dip late last week—triggered by the reactivation of long-dormant BTC wallets after 14 years—Bitcoin is regaining momentum as the new week kicks off.
According to data from Cointelegraph Markets Pro and TradingView, price action is now centered around the $109,000 level as Wall Street reopens.
Having flipped the key $108,000 level to support, BTC/USD is increasingly giving traders cause to believe that new all-time highs are around the corner.
“$BTC Sets its high or low of the month within its first 12 days over 80% of the time,” popular trader Daan Crypto Trades noted in part of his latest analysis on X.
“It then usually proceeds to trend in the other direction for a sizeable 20%+ move from that high or low.”
Trading resource Material Indicators highlights that a band of ask liquidity at $110,000 is currently preventing Bitcoin from entering price discovery.
Monitoring platform CoinGlass identifies $110,000 as the critical resistance level for an upside breakout, with strong bid support emerging around $107,800.
