Bitcoin closed June at a record monthly high of $107,100 despite forming a spinning top candlestick pattern that suggests market indecision.
Bitfinex analysts say declining Bitcoin spot volume may indicate a “local top” but all eyes will be on the performance of spot Bitcoin ETFs this week.
Bitcoin could break past $110,000 as inflation pressures mount, equities rally, and passive capital flows grow on potential S&P 500 rebalancing events.
Onchain data points to a major Bitcoin price rally in the making, while short-term price weakness highlights the absence of “new” buyers.
Metaplanet has become the fifth-largest corporate Bitcoin holder after its latest $108 million purchase, which comes on the same day the Japanese firm issued 0% interest bonds to buy more.
Long-term Bitcoin holders have been selling to institutions since spot ETFs launched, keeping prices stagnant.
Jordi Visser argued that growing dissatisfaction among those 25 and younger with the current financial system will increase BTC adoption.
Bitcoin price made a weekend rush on the $109,000 resistance and HYPE, BCH, LINK and SEI could be the first altcoins to rally if BTC bulls secure new highs.
Michael Saylor’s Strategy is up over 52% on its Bitcoin investment, representing an unrealized capital gain of over $21.8 billion.
Bitcoin weekend volatility gets a late boost thanks to a familiar source with the key $109,000 BTC price closing level within easy reach.