Bitcoin has broken through the $107,000 price barrier as bullish momentum accelerates toward the next key resistance at $135,000. This surge is fueled by substantial spot ETF inflows and over $1.1 billion in short liquidations across cryptocurrency markets.
Technical indicators signal robust upward pressure: The Relative Strength Index (RSI) at 72 shows sustained buying strength while MACD confirms bullish momentum. Trading volume surged 93% during the rally, indicating strong market conviction.
The rally’s sustainability is further supported by Fibonacci extension models projecting potential targets at $135,003 through $184,181. Analysts highlight $115,220 as critical support to monitor, with ongoing evaluations of on-chain metrics to gauge continuation prospects.
Institutional participation via spot Bitcoin ETFs remains a key growth catalyst alongside major short squeezes driving rapid price appreciation. Market watchers anticipate continued volatility as Bitcoin approaches historic resistance thresholds.