Bitcoin inched higher over the weekend, rising around 3% to hit $108,000 on Sunday, following similar trends across the crypto space.
With liquidity getting absorbed near the $108,000 level, traders are increasingly confident that a breakout to new all-time highs is just a matter of time, especially as ask orders accumulate beyond $109,000.
Analysts Signal Approaching ATH for Bitcoin
Since falling below $108,000 on June 11, Bitcoin has struggled to reclaim that key level — but analysts are now suggesting that the tides may be turning.
Michael van de Poppe, founder of MN Capital, pointed out that Bitcoin was hovering at $107,450 and noted that after grabbing liquidity near $108K, a brief dip might precede a strong move upward toward uncharted territory.
His technical analysis highlighted the $109,000 mark as a crucial resistance on the four-hour chart. “Breaking through this level is essential for upward momentum,” he said. “We might see a new all-time high for Bitcoin as early as this week.”
Meanwhile, pseudonymous trader Mags observed an inverted head-and-shoulders pattern forming on higher timeframes — a bullish indicator. A breakout above the neckline around $112,000 could launch Bitcoin into record-setting territory.
“Breakout is imminent,” Mags commented alongside the chart.
Analyst Jelle echoed this view, suggesting that a breakout from Bitcoin’s ongoing bull flag structure could open the gates to a strong move into price discovery mode.
$109K Zone a Critical Liquidity Magnet
The range between $108,000 and $110,000 is not only psychologically significant but also technically vital, as it could signal a shift in market sentiment once surpassed.
Market watchers noticed that liquidity is building up at $109,000, with some noting that bids are strengthening below current prices, while large ask clusters are forming above.
“Bitcoin is testing $109,000 liquidity early this morning as anticipated,” said crypto analyst AlphaBTC in a post on X. “The question now is whether there’s enough strength to break through and sustain momentum.”
Data from analytics platform CoinGlass revealed that Bitcoin has been consuming bid liquidity around $108,000, while substantial interest — over $47.6 million — is concentrated at the $109,500 level.
Support remains anchored around $107,000 to $107,400, forming the key lower liquidity area.
Should Bitcoin manage to clear the dense liquidity between $110,000 and $112,300, a significant short squeeze could propel prices higher, taking the market back into price discovery.
The more liquidity clusters near the $112,000 historical high, the greater the chance of an explosive move upward.
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