TradingKey – Bitcoin (BTC) extended its rally on Monday, June 30, climbing over 1% to reclaim the $108,000 level, trading at $108,482 at press time. That puts it just 3% below its all-time high set on May 22, raising hopes of a fresh breakout toward $110K and beyond.
Bitcoin Price Chart – Source: TradingView.
Despite being capped below $120,000 for the past month, Bitcoin has remained resilient — thanks largely to institutional accumulation. Companies like Metaplanet and MicroStrategy (MSTR) continue to add BTC to their treasuries, inspiring others to follow suit, including:
- Bitmine Immersion Technologies (U.S. software firm),
- Vanadi Coffee (Spanish café chain),
- Bakkt (crypto exchange, $1B BTC investment plan),
- Sequans (U.S.-listed firm, $384M BTC allocation),
- Mac House (Japanese apparel chain, $11.77M BTC purchase),
- Fold Holdings (Bitcoin financial services, $250M),
- DDC Enterprise Limited (NYSE-listed, $528M BTC plan).
Analyst Axel Adler Jr. believes Bitcoin could retest its record highs, noting, “Whales are moving large sums onto centralized exchanges. As long as BTC holds above $108,000, the next target is $112,000.”
Jordi Visser, another market strategist, attributes the bullish momentum to inflationary pressures: “The more money is printed, the harder it is to suppress Bitcoin’s price.”
However, not all signals are bullish. As BTC nears $110K, selling pressure is mounting. On-chain data shows that whales offloaded over 40,000 BTC (worth ~$4.3B) in the past week, and the Liveliness indicator suggests long-term holders (LTHs) are beginning to move coins, a potential sign of profit-taking or bearish sentiment returning.
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