

Bitcoin (BTC) soared nearly 5%, regaining $110,000, focusing on starting momentum in the cryptocurrency market
Jun 11, 2025 pm 04:03 PMBitcoin rose nearly 5% in 24 hours yesterday, breaking the $110,000 mark strongly and triggering a new round of upward momentum in the cryptocurrency market.
In less than a day, the price of Bitcoin climbed nearly 5%, successfully reaching the key position of $110,000 and continuing to drive the rebound trend of the entire crypto market.
If the bull market continues to strengthen, it may break through the all-time high of $112,000 to confirm the trend continuation and open up space for subsequent price increases.
However, there is still a risk of a pullback or a sharp decline above this level, especially when the macroeconomic environment is still unclear and the spot market liquidity is insufficient.
According to Hyperliquid clearing data provided by well-known analyst Axel Adler, a large number of long positions are being centrally liquidated around $105,000.
Although the overall trend is still relatively large, the market is facing key choices. If it can effectively break through the historical high, the market will be strong and may trigger further rises. On the contrary, it may lead to intensification of volatility in the short term.
As the risk of long closing positions increases, Bitcoin enters consolidation stage
After a strong rebound of about 50%, Bitcoin has entered a consolidation phase and is now approaching its all-time high of $112,000.
The current price is slightly lower than the historical high, and the bulls still have the dominance, but it seems a bit difficult to drive the price to rise further. Momentum indicators have slowed down, and BTC seems to be waiting for new driving forces to restart the upward trend.
The volatility began at the end of May, when market sentiment was hit due to macroeconomic uncertainty and overall market correction.
However, Bitcoin showed strong resistance to declines, held key support levels and built a solid support belt in the range of $105,000 to $107,000. This performance helps maintain the overall bullish pattern, and a gradual rise in lows on the chart, without a significant decline even in the face of major pressure.
Against this backdrop, analyst Axel Adler shared clearing data from Hyperliquid, showing that a large number of long clearing orders gathered around $105,000.
This may form a "magnetic effect", that is, short momentum may pull the price to the area to trigger stop loss and forced closing, and once the support is lost, it will further increase downward pressure.
Currently, the price of Bitcoin is still fluctuating between $105,000 and $112,000. Traders are paying close attention to whether they can effectively break through the previous high or test market resilience at the support level below.
It is crucial to be patient until the direction is clear. Although the current structure is still bullish, the next catalyst (whether it is macroeconomic changes, regulatory dynamics or market sentiment) will determine whether BTC will continue to rise or fall back to support levels.
BTC retests $109,000 after breakout, and multi-party efforts to ensure the increase
Currently, Bitcoin’s price on the four-hour chart is $109,547, and after completing an effective breakout, the price has stabilized above the important resistance level of $109,300.
This level has been tested several times since the end of May and has become an important turning point, marking a significant change in market momentum, with Bitcoin rising by nearly 6% in the past two trading days.
After briefly hitting $110,000, the price began to flatten.
This rise is accompanied by amplification of volume and a good arrangement of moving average systems, including 50-cycle SMA ($105,553), 100-cycle SMA ($106,294), and 200-cycle SMA ($105,615), which are now transformed into strong dynamic support.
As long as the price remains above $109,300, the bullish trend will not change. If it can successfully backtest and hold this level, it will mean that this place has become a new support level and is expected to push the price to an all-time high of $112,000.
On the contrary, if Bitcoin cannot hold on to this level, the price may fall back to the range of $106,000 to $107,000, which is also the area where buyers intervened before. The overall structure is still relatively large, but due to strong resistance above and a large number of long liquidation gatherings below, volatility may increase in the future.
The above is the detailed content of Bitcoin (BTC) soared nearly 5%, regaining $110,000, focusing on starting momentum in the cryptocurrency market. For more information, please follow other related articles on the PHP Chinese website!

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