Bitcoin Breaks Above $109K With Rising Volume, Analysts Eye Potential Rally Toward $118K
2025-07-03 23:20:00
Main Idea
Bitcoin has broken above $109,000 with rising trading volume, setting sights on the $118,000 resistance level, supported by strong market metrics and bullish momentum.
Key Points
1. Bitcoin is currently trading at approximately $109,569.36, with a 1.71% daily gain and a 24-hour trading volume of $54.97 billion, an 18.08% rise.
2. The volume-to-market cap ratio stands at 2.53%, indicating heightened trading activity relative to Bitcoin’s valuation.
3. Bitcoin’s fully diluted valuation is estimated at $2.3 trillion, with a market capitalization of $2.17 trillion.
4. A well-defined support zone between $108,000 and $109,000 bolsters Bitcoin’s ability to maintain price levels above $109,000.
5. Market commentators highlight the potential for a historic breakout, with $120,000 identified as a key psychological target.
Description
Bitcoin surges beyond $109,000 with increasing volume, signaling a potential rally toward the critical $118,000 resistance level. Strong support between $108,000 and $109,000 consolidates Bitcoin’s bullish momentum, providing a solid
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