Bitcoin Rally Above $109,000 Supported by Onchain Signals and Technical Indicators Suggesting Potential Breakout
2025-07-03 04:39:16
Main Idea
Bitcoin's price rally above $109,000 is supported by strong on-chain signals, technical indicators, and macroeconomic factors, with potential to reach new all-time highs.
Key Points
1. Bitcoin's price surge to above $109,000 was accompanied by a 10% rise in futures open interest, indicating robust capital inflows.
2. Stable funding rates and elevated Coinbase Premium Index suggest the rally is not driven by excessive leverage but by sustained spot buying pressure.
3. Technical indicators, including a bullish MACD crossover and low volatility, signal a potential breakout, with $137,000 as a key target.
4. A short squeeze liquidated over $196 million in short positions within 12 hours, intensifying upward momentum.
5. Global money supply (M2) surpassing $55 trillion provides a macroeconomic backdrop supporting Bitcoin's value amid expansive monetary policies.
Description
Bitcoin’s recent surge past $109,000 marks a significant milestone, underpinned by robust on-chain data and technical indicators signaling a potential major breakout. The rally coincides with a historic rise in
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