Bitcoin Tries and Fails to Puncture $110,000 Liquidity
The post Bitcoin Tries and Fails to Puncture $110,000 Liquidity appeared on BitcoinEthereumNews.com.
Key points: Bitcoin tries and fails to crack $110,000 as overhead liquidity thickens. Traders say that more signs of strength are needed to reignite bull market momentum. Macro cues include next week’s CPI print as a potential volatility date. Bitcoin (BTC) attempted a run on $110,000 around the Wednesday Wall Street open as sellers lined up to keep the price in place. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin bulls stumble before reaching $110,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $109,777 on Bitstamp before reversing. Still wedged in a narrow range, the pair was contained by exchange order-book liquidity, which strengthened around the move. Data from monitoring resource CoinGlass showed bid and ask liquidity strongest at around $108,500 and $110,500, respectively. BTC liquidation heatmap (screenshot). Source: CoinGlass Reacting, crypto market participants hoped that the stage was being set for a long-anticipated assault on all-time highs. “Almost all liquidity is to the upside. Stops above $110k are not safe,” popular trader Jelle wrote in part of an X post on the topic. Jelle predicted a trip to $130,000 should bulls succeed in cracking the $110,000 mark, which had not seen a daily close since June 11. #Bitcoin broke the bullish flag, retested it, and now pushes higher. Clear $110k, and $130k is the next target. You ready? pic.twitter.com/akSRfxoP6v — Jelle (@CryptoJelleNL) July 9, 2025 Continuing, fellow trader BitBull flagged relative strength index (RSI) data as key to determining Bitcoin’s potential next move. “3D RSI and price are both forming an inverse head and shoulder pattern,” he told X followers, referring to a classic bullish chart feature. “For breakout, we need one of these 2 things. Either a 3D close above $110K or a 3D RSI close above 70. After that, we’ll experience an up-only rally for 3-4 weeks.”…
Filed under: News - @ July 10, 2025 7:31 am