🚀 Bitcoin Smashes $110K Barrier as Bullish Sentiment Fuels Crypto Frenzy

Bitcoin just ripped through another psychological milestone—trading above $110,000 for the first time as institutional FOMO goes mainstream.

The catalyst? A perfect storm of ETF inflows, halving scarcity mechanics, and Wall Street finally admitting they were wrong about 'magic internet money.'

Market psychology flipped faster than a degenerate trader leveraging 100x—retail and whales alike are piling in while traditional finance scrambles to catch up. Even gold bugs are quietly rebalancing portfolios.

The irony? This rally comes as the SEC approves yet another surveillance-coin ETF—proving regulators still don’t get the point of decentralized money. Some things never change.

One thing's certain: When the suits start chasing momentum, you know we're in the 'greed' phase of the cycle. Buckle up.

In Brief

• Bitcoin has climbed above $110,000, approaching its all-time high near $111,970 after weeks of steady trading.
• The price has moved out of a descending channel, signaling potential for continued upward momentum.
• The Fear and Greed Index rose from 63 yesterday to 73 today, reflecting growing bullish sentiment.

Breaking Free: Bitcoin Moves Beyond the Downtrend

Bitcoin had been confined within a descending channel for several weeks—a chart pattern marked by gradually declining highs and lows. This structure often signals bearish sentiment in the short term. However, the coin has now moved above the upper boundary of that channel—often seen as a sign of a possible bullish shift.

Market analyst Mac expressed a high degree of confidence that Bitcoin’s structure remains solid, even if prices briefly pull back to around $102,000. He maintains that the broader outlook suggests a push towards $130,000 is likely before the end of the year. Mac’s view is supported by growing momentum in both market structure and investor behaviour.

Growing Buzz and Strong Sentiment Signal Renewed Confidence

There’s been a noticeable uptick in chatter online. Discussions about Bitcoin are climbing across platforms like X, Telegram, and several other communities. Market research firm Santiment has tracked the increase and notes that many retail investors appear to be jumping back in.

This spike in attention also shows up in sentiment data. The Fear and Greed Index, which stood at 63 just yesterday, has now surged to 73. That puts the market in a “greed” phase, typically indicating that confidence is high and expectations for price growth are rising.

Another sign of growing confidence comes from long-term holders—those who’ve held their bitcoin for over 155 days. According to Glassnode, they now control a record 14.7 million coins. Many of these were bought near the $100,000 mark and remain untouched, showing strong conviction and little interest in selling, even as prices climb.

Institutional interest was a major factor in keeping Bitcoin steady during its recent consolidation—and it continues to support the current breakout. Consistent inflows into U.S. spot Bitcoin ETFs and solid trading volumes have added strength to the rally.

Bitfinex notes that Bitcoin’s next major MOVE will depend on economic factors and sustained institutional buying, especially from ETFs.

So, What Are the Driving Forces at Play?

• US spot Bitcoin ETFs have recorded 14 consecutive days of net inflows. 
• Total institutional investments reached $4.63 billion by June 27. 
• Glassnode reveals that long-term holder supply has reached an all-time high, signaling growing market conviction.

Resistance Still Matters

Despite the positive momentum, not everyone is completely convinced. Analyst David Watt notes that Bitcoin, while on the rise, hasn’t yet made a clean break from its broader bearish structure.

He points out that the $112,000 level has proven to be a strong barrier in the past. If the market fails to push through that mark again, it wouldn’t be surprising to see a retreat toward $100,000.

That said, the overall sentiment remains positive. Some analysts are pointing to July as a potentially strong month for Bitcoin, and early signs seem to support that view. With growing interest from both retail investors and institutions, along with improving technical indicators, many believe the market could be gearing up for another significant move.

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