Bitcoin Nears All-Time High Amid Record Week as Liquidity Targets Resurface

Bitcoin (BTC) flirted with all-time highs recently, sealing another record weekly closing price despite earlier weakness triggered by dormant wallet reactivations. The focus now shifts to key resistance levels around $105,000-$110,000 ahead of upcoming US economic data releases.

Liquidity Targets at $105k and $110k

Trading analysis points to a potential “false move” or consolidation dip toward the $105,000 level, coinciding with the 50-day exponential moving average (EMA), as a likely near-term correction before further upside targeting the $110,000 resistance.

• $110,000 identified as a key ask liquidity and historical resistance level.
• $105,200 highlighted as a specific liquidation target integrating price consolidation and EMA confluence.
• $107,800 noted for potential bid support.

Record Week Fuels Bullish Outlook

Bitcoin’s price action decisively held the $108,000 level, contributing to a 1.8% weekly gain in July, adding to a 2.8% monthly increase. This pushed BTC’s weekly closes into record territory for June and July, strengthening the bullish narrative for all-time high aspirations.

• Analysts predict continuation trends and all-time high targets.
• Bulls’ “control” of the market is being emphasized following strong weekly performance.

Macro Influencers: Trade Tariffs & Diverging Rates

The dominant macro discussion centers on US international trade tariffs, with a July 9 deadline approaching despite August 1 negotiations. This contrasts sharply with Fed policy.

• Fed rates remain steady while President Trump pushes for reductions.
• Dollar strength, falling over 10% this year to its worst start since 1973, is providing tailwinds for risk assets like Bitcoin.

Funding Rates Signal Potential Short Squeeze

Despite rising BTC prices, funding rates continue to decline, suggesting a disconnect. This pattern historically precedes significant upward moves due to potential short squeezes.

Investor Greed Surges Despite Risks

Contrary to underlying macroeconomic risks, sentiment indicators point to extreme bullishness among investors.

• Fear & Greed Index: TradFi index hits extreme greed territory (78/100) amidst tariff and inflation concerns. Crypto equivalent reaches 73/100, its highest level since late May.
• This suggests positioning often precedes major market tops, although reversals currently appear underway in sentiment.

[Disclaimer: This article is not investment advice. Trading involves risk.]