Bitcoin rose over 3.4% on July 2,2025, reaching an intraday high of $109,610 and is now currently trading around $108,979. This breakout comes in a potential result on the back of global trade optimism, steady monetary policy expectations, and a derivatives driven rally. This push is now signaling a potential upcoming move towards the $114k-$120k zone.
Trade Winds Boost Bitcoin
In the entire economy, investor confidence got a boost as news broke of new progress in U.S and China trade negotiations. Treasury Secretary Scott Bessent’s comments on easing back tariffs brought optimism across all markets including Bitcoin. Meanwhile the Federal Reserve’s expected decision to hold interest rates steady has removed an overhang, creating a favorable macro backdrop for assets like Bitcoin.
Derivatives Market Signals Strength
Around $83 million in BTC shorts were liquidated in the past 24 hours, bringing strong buying pressure into the market just like the mega liquidation driven pumps of late March. On the other end, total futures open interest has climbed from $50.8B to $64.4B, while funding rates recovered above zero making clear signs of interest in leverage traders and trader confidence. For a greater outlook, see Bitcoin Price Prediction for 2025: Navigating the Future of Cryptocurrency and Asian Dawn Report: Bitcoin’s Leverage Strategy Poised for a Breakout with Steady Patience, which explore how steady accumulation and derivatives data could shape BTC’s next breakout.
Technical setup: Resistance at $114k, Support at $105k
Technically, Bitcoin has broken out of a falling wedge pattern and is back into the $93,000 yearly open. There is now key resistance at $114k-$115k, while a RSI divergence could show momentum starting to weaken. A daily close above $110k would confirm to traders that a bullish pattern will follow, while failure to hold that price could lead to a pullback toward $105k-$107k. Daist_adamZz goes more in depth into this resistance here $BTC has pulled back into the $107,000–$108,500 zone after testing a high near $112,000 — consolidation is underway.
My Individual Take
As someone who is constantly scanning the market, this move definitely feels real. We are seeing textbook signals, macro alignment, technical confirmation and derivatives strength. If bitcoin can hold above $110k, the move to $115k or even $120k looks very likely. But if resistance cant move above the price again, I will have my eye set on the $105k areas as my risk line.
Source
This article is based on: Bitcoin Surges Past $110K as ETF Inflows Increase—Is a New All-Time High Imminent? Where Could the New BTC Price Peak Be?
Bitcoin Price Coiling Up — Is a Surge Past $110K on Deck?
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Traders Eye Breakout to New Highs as Trump Says Tariff Deals Progressing
- Bitcoin Surpasses $95K Amid Resilient U.S. Stocks, Analysts Voice Concerns Over Market Perception (openai)
- Crypto Daybook Americas: All Eyes on Jobs, Fed as Bitcoin Prepares for Breakout Rally
Nicholas Newman is a 19-year-old based in Westchester, NY. He began his college journey at Iona University in New Rochelle and is now a student at Fordham University’s Gabelli School of Business in the Bronx NY, majoring in Accounting and Finance. Nicholas has been actively involved in the crypto space since 2020, both on the investment side and in development, and continues to explore opportunities at the intersection of finance, technology, and digital assets.
