The cryptocurrency market maintains stability today with Bitcoin traded at $107,375, increasing 0.3% over the past 24 hours. Altcoins like XRP, BNB, Solana, Dogecoin, SUI, and Cardano also attract attention with moderate increases ranging from 1 to 4%. This indicates potential recovery in the current market context.
Is Bitcoin Entering a New Price Increase Cycle?
Based on expert Michaël van de Poppe's analysis, Bitcoin is showing a very positive price increase structure that could lead to new high prices in the near future. Recently, Bitcoin tested liquidation above $108,000 and stopped, remaining below the main resistance level.
The expert points out that $110,500 is an important breakthrough threshold. If Bitcoin surpasses this level, it will likely bring a new record price. This is similar to the previous breakthrough above $106,500.
On the downside, he indicates that the $105,500 to $104,000 range is a strong dip buying area, with deeper support around $98,500 to $100,000. An adjustment to these areas could create a price recovery similar to the previous week's setup.
Analysis of $110,000 Resistance and New Price Expectations
Despite Bitcoin's momentum slowing down, experts still affirm that the price increase market is not over. The current MVRV ratio is 2.2, still lower than the peak, indicating more room for development. The increase in MVRV momentum, combined with strong investment capital into ETFs, could push Bitcoin beyond $112,000, with some experts even predicting $165,000.
Bitcoin's next movement depends on breaking the resistance threshold between $108,000 and $110,000. Expert AlphaBTC believes a strong momentum is needed to transform this area into support.
Final Resistance at $108,000?
An adjustment to around $104,000 to $105,000 could help Bitcoin attract more liquidation and momentum for the next strong increase. Rekt Capital emphasizes that $108,000 is the "final weekly main resistance" blocking Bitcoin from reaching new record prices.
Expert Scott Melker believes Bitcoin maintains its strength despite short-term volatility and macro instability. He explains that Bitcoin's stability reflects strong institutional demand. In the past 12 days, Bitcoin ETF funds have recorded additional capital of up to $4 billion, showing solid investor confidence. Despite global tensions, Bitcoin's growth trajectory remains steady.
