Why is Bitcoin having such a hard time in blowing past $110,000?
2025-06-30 19:28:54
Main Idea
Bitcoin has been struggling to surpass the $110,000 mark due to factors like risk substitution, miner liquidations, and declining whale activity, despite strong institutional adoption and ETF inflows.
Key Points
1. Bitcoin has been consolidating near $110,000 for weeks, unable to break through despite reaching an all-time high of $111,700 in May.
2. Michael Bucella of Neoclassical Capital attributes the stagnation to risk substitution, where investors divert funds to other high-growth sectors like AI and stablecoins.
3. Bitcoin miners are liquidating holdings due to thin margins, adding supply pressure to the market.
4. Whale activity has declined by 57% over a recent two-day span, coinciding with Bitcoin's price stagnation.
5. The Relative Strength Index (RSI) has cooled from overbought levels, signaling potential fatigue in Bitcoin's price movement.
Description
Despite a year of significant bullish momentum, Bitcoin has repeatedly failed to break through the psychologically and technically significant $110,000 barrier, at least sustainably. After reaching an all-time high of $111,700 in May, the world’s largest cryptocurrency by market cap has been stuck in a tight range between $103,000 and $108,000. This has puzzled investors,
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