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Bitcoin Price News: Confirmed BTC Breakout Favors Push to $110,000

By:
Bob Mason
Published: Jun 25, 2025, 18:40 GMT+00:00

Key Points:

  • Bitcoin is the best-performing crypto of the top 5 in year-to-date gains.
  • The top crypto is now eyeing a push to $110,000 after a bullish breakout above a key resistance.
  • We could see BTC making a new all-time high soon after a brief pullback.
Test with Sveta to see if alt is translated

Bitcoin (BTC) has gone up by 1.4% in the past 24 hours and currently sits slightly above $107,000 after a confirmed breakout of a key resistance around $103,000.

In a relatively calm day for altcoins, the top crypto is shining as the market recovers from the turmoil caused by the Iran-Israel conflict during the weekend.

As a result of today’s uptick, Bitcoin has now booked year-to-date gains of nearly 15%, making it the top-performing cryptocurrency of the top 5.

Data from CoinGlass shows that BTC short liquidations are in a relatively normal range today as most shorts were likely blown up on Monday when the price bounced back strongly off the $100,000 level.

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Bitcoin Open Interest in BTC – Source: CoinGlass

Meanwhile, open interest in BTC futures has climbed back to its highest level in the last 15 days as today’s uptick appears to have encouraged traders to jump back into the market.

The Chairman of the Federal Reserve, Jerome Powell, asserted today during his testimony before Congress that the central bank does not want to rush a rate cut that could produce a spike in the country’s inflation rate.

However, he recently confirmed that the Fed will still cut rates two times this year. This confirmation comes after the Trump administration backpedaled on its decision to raise tariffs to a significant extent on imported goods from China and other key commercial allies.

BTC Should Retrace a Bit Before Eyeing a New ATH

Lower rates favor an increase in the price of high-risk assets including Bitcoin (BTC).

As we shared in our latest Bitcoin price prediction, an inverse head and shoulders pattern had been forming in the hourly chart that could result in a move toward the $109,000 level if the price broke out above the neckline of this pattern.

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Previous BTC/USD Prediction – Source: FXEmpire.com

This breakout occurred with strong volumes, which confirmed the relevance of this price level to market participants.

Now, we are just 1.5% away from our $109,000 target. There’s a chance that the price could move even higher to the next relevant area of resistance at $110,500. However, it seems unlikely that we will get there without a pullback and even less likely that BTC will retest its all-time high before that happens.

Key Levels to Watch for Bitcoin

Looking at the hourly chart, we have identified the key levels to watch as BTC continues its relentless recovery.

Depending on where the ceiling is for this bullish impulse, the key support areas to watch would be either the 200-period EMA in this time frame or the $106,000 level.

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BTC/USD Hourly Chart (Bitstamp) – Source: TradingView

Both of these levels can be obtained by drawing a Fibonacci retracement from the beginning of the bullish dominant impulse to each of these two potential targets – $109,000 or $110,500.

The Relative Strength Index (RSI) favors a bullish outlook as it has already touched overbought levels, meaning that the strength of the uptrend is quite high. However, as the oscillator has reached these extremes, the risk of a pullback has increased.

The 9-period and 21-period exponential moving averages (EMA) are both above the 200-period EMA, which favors a bullish outlook. Hence, the odds favor an upcoming retest of BTC’s current all-time high over the next few days as market conditions have improved.

 

About the Author

Bob MasonChief Crypto Boss

123456789 30 He has written extensively for a broader audience and his current focus is on developments relating to the financial markets including, but not limited to currencies, commodities, alternative asset classes, and global equities.

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