TLDR:

Bitcoin price hit $112,800 on Binance after breaking $110,500 resistance early Wednesday.
Strong ETF inflows and treasury buys continue fueling upward price momentum.
BTC’s RSI and MACD readings suggest sustained strength, but hint at volatility.
Analysts now target $150K in Q3 if Bitcoin holds above $110K support level.

Bitcoin has crossed a new short-term high, rising above $112,000 and signaling renewed market strength. 

The surge follows weeks of steady gains, underpinned by strong institutional flows and continued ETF enthusiasm. Traders are watching technical levels closely as sentiment improves, and price movement suggests room for further upside. 

Both Bitcoin and Ethereum have seen renewed accumulation from large holders, creating momentum across the broader crypto market. With rising volume and open interest, market participants now eye higher levels through the rest of Q3.

Bitcoin Price Breaks Key Resistance, Holds Above $110K

Bitcoin moved past the $110,500 resistance early Wednesday, reaching an intraday peak of $112,700 on Binance. 

Bitcoin price on CoinGecko

Data from CoinGecko placed the latest price at $112,800, reflecting a 3.13% gain in the past 24 hours. Analysts note that the price held key support immediately after the breakout, a critical step for bullish continuation.

Technical trader Michaël van de Poppe analyzed the recent chart setup, noting that Bitcoin had reclaimed the $106,500 zone before surging higher. He pointed to immediate support at $110,500 as confirmation of strong buying pressure. 

The move echoed previous breakout patterns, suggesting continued bullish structure if current support levels remain intact.

Van de Poppe believes this breakout may lead to new all-time highs, targeting $150,000 within Q3 if momentum holds. His chart highlighted strong liquidity areas below $105,500, which could offer reaccumulation zones if short-term pullbacks occur. 

Beautiful breakout upwards on #Bitcoin.

It broke $110,500, found immediate support and continues to rally towards new ATHs.

What’s next?

Likely we’ll see $150K in Q3. pic.twitter.com/vNTEYc9z99

— Michaël van de Poppe (@CryptoMichNL) July 10, 2025

Market watchers agree that the trend remains positive as long as Bitcoin stays above $110,000.

Momentum indicators like the RSI continue rising, suggesting sustained strength. However, a drop below $100,000 could signal a temporary retracement before another leg higher. 

For now, technical conditions favor further upside, supported by demand from long-term holders and institutional buyers.

Bitcoin Institutional Inflows and ETF Tailwinds Drive Sentiment

Alva, a crypto data aggregator, reported that ETF inflows and treasury purchases remain key drivers behind the latest rally. 

Bitcoin ETFs have seen consistent net inflows, while treasury accumulation adds upward pressure. Traders are also tracking signals from the MACD and CRSI, which show overbought conditions, hinting at potential volatility.

Ethereum followed suit, hitting a 24-hour high of $2,823 before settling around $2,805, also gaining over 1% in the same period. Analysts attribute ETH’s rise to fresh whale withdrawals, increased institutional interest, and upcoming network upgrades. 

Both assets now trade with strong volume and rising open interest, pointing to dominant participation by large players.

As Bitcoin builds support above $110,000, short-term bullish conditions appear intact. Still, analysts caution that high RSI readings could bring short corrections. Traders will watch for consistent volume and whether key support zones hold under pressure.

For now, crypto markets remain in an uptrend, with BTC leading the charge. With Q3 just underway, the next few weeks may confirm whether this breakout can carry Bitcoin higher.

 

The post Bitcoin Price Smashes Through $112K Barrier as BTC Bulls Target $150K by Q3 appeared first on Blockonomi.

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Filed under: Bitcoin - @ July 10, 2025 5:25 pm