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Date: July 3, 2025
đ§ By: CryptoMarket Insight | Analyst View
Bitcoin has been on a rollercoaster this week, pushing through major resistance levels and sparking renewed bullish sentiment. But with BTC currently hovering around $107Kâ$108K, the crypto community is asking one burning question:
đ Can Bitcoin hit $110,000 today?
Letâs break it down âŹïž
đ Technical Analysis
Immediate Resistance: $110K is a key psychological and technical level. Previous wicks have failed to close above this point.
Volume & Momentum: Current volume is strong but slightly cooling compared to the Monday surge. Momentum indicators (MACD, RSI) are bullish but approaching overbought zones.
Fibonacci Extension: The 1.618 extension from the last breakout puts us right around the $110K zone â a textbook level for a pause or reversal.
đ° Macro Factors Driving Price
ETF Inflows: Spot BTC ETFs continue to see healthy inflows, with BlackRockâs iShares alone pulling in $450M yesterday.
Institutional Demand: CME futures open interest has hit an all-time high â another sign that institutions are heavily positioned long.
Global Risk Sentiment: Dollar weakness and softening Fed tone are giving risk-on assets like BTC a clear path upward.
đ„ Expert Take
While BTC is very close to $110K, a daily close above this level will require:
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Sustained buying pressure
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No sudden macro shocks
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Clean breakout on the 4H and 1D candles
Probability of hitting $110K today: 65%
Probability of closing above $110K: 45%
A quick wick to 110K is likely â but holding it will be the real challenge.
đ§ Pro Tip for Traders:
Watch for liquidations around $109.8Kâ$110K.
Consider partial profit booking near resistance zones.
Avoid leverage chasing if you're late to the move.
đŹ Whatâs your strategy if BTC hits $110K today? Taking profits or riding the wave to $120K? Share your thoughts in the comments đ