TL; PhD
- Bitcoin went over $110,000 again after a short pullbackrekindling bullish confidence of nearly $104,000 following the May merger.
- With a market capitalization of $2.18 trillion, it appears to have a solid market foundation.daily volumes exceeding $56 billion, and enhance tight liquidity in circulation supply.
- Institutional ETF inflowwidening whale holdings, and macro uncertainty fuelled the rally, with resistance catching eye at $115,000 to $118,000, supporting around $104,000 to $106,000.
Bitcoin Recovered the six-digit milestone on Thursday and climbed the $110,000 threshold again after a short pullback. Traders saw BTC rise to $110,005.61 and marked a new affirmation of the underlying bullish trend. This move follows the short mid-cycle integration in Mayin the meantime, the flagship cryptocurrency was soaked into $104,000 before the buyers stepped in.
This latest rise has rekindled optimism across the trading floor, suggesting that market participants are ready to build on recent profits rather than locking profits at the first sign of resistance.
Market Indicator Signal Strength
On-chain and market data fall below Bitcoin’s robust foundation. Currently, the total market capitalization is close to $2.18 trillion, Over 2% Every day in the past 24 hours Trading volume exceeded $56 billion, Almost 17% off. The circulation supply is limited to approximately 1,988 million coins, with a maximum of 21 million coins.
meanwhile, The market-to-cap ratio exceeded 2.5%shows a balanced distribution of strong liquidity and the buying and selling pressures among participants in both spot and derivative arenas. At the time of writing, BTC is trading It’s about $109,000, an increase of nearly 2%.
The driver behind the rally
Several factors have converged to drive BTC’s March higher. Institutional influx into the spot Bitcoin ETF Continue unabated, pouring billions of dollars from traditional asset managers into encryption. Metrics on the chain reveal a rise in whales with healthy network transaction counts. Both are signs of sustainable demand.
Macro uncertainty has led investors to a finite supply of Bitcoin as a hedge, from changing interest rate expectations to revamping the fiscal stimulus plan in Washington. Finally, the whispers of positive regulations and the expansion of the corporate Treasury have further strengthened the narrative that BTC is a strategic asset.
Outlook and resistance levels
Chartwatchers will see the next hurdle zone between $115,000 and $118,000.. If bullish momentum continues, Bitcoin could test these ceilings and approach $125,000 before potential retesting of previous cycle peaks.
Conversely, support has been offering buffers for short-term volatility cases, covering bands ranging from $104,000 to $106,000. If current trends apply, analysts could foresee a wider gathering to expand in the third quarter and announce new interests across the Altcoins and Crypto derivatives market.
