Bitcoin Breakout Alert — Price Turns Green as Bulls Step In

Bitcoin price started a fresh increase above the $108,500 zone. BTC is now up over 3% and showing positive signs above the $110,000 level.

  • Bitcoin started a fresh increase above the $108,500 zone.
  • The price is trading above $110,500 and the 100 hourly Simple moving average.
  • There was a break above a bearish trend line with resistance at $108,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue to rise if it clears the $112,000 resistance zone.

Bitcoin Price Eyes More Gains

Bitcoin price started a fresh increase after it cleared the $108,500 resistance zone. BTC gained pace for a move above the $108,800 and $109,500 resistance.

Besides, there was a break above a bearish trend line with resistance at $108,800 on the hourly chart of the BTC/USD pair. The bulls even pumped the pair above the $110,000 resistance zone. It opened the doors for a move toward the $112,000 level.

A high was formed at $112,000 and the price is now consolidating gains. It tested the 23.6% Fib retracement level of the upward move from the $107,500 swing low to the $112,000 high.

Bitcoin is now trading above $109,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $111,600 level. The first key resistance is near the $112,000 level. The next resistance could be $112,500.

Bitcoin Price

A close above the $112,500 resistance might send the price further higher. In the stated case, the price could rise and test the $115,000 resistance level. Any more gains might send the price toward the $116,000 level. The main target could be $118,000.

Downside Correction In BTC?

If Bitcoin fails to rise above the $112,000 resistance zone, it could start a downside correction. Immediate support is near the $110,800 level. The first major support is near the $109,750 level or the 50% Fib retracement level of the upward move from the $107,500 swing low to the $112,000 high.

The next support is now near the $109,200 zone. Any more losses might send the price toward the $108,500 support in the near term. The main support sits at $107,500, below which BTC might continue to move down.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $110,800, followed by $109,750.

Major Resistance Levels – $112,000 and $115,000.

Bitcoin 30-Day Average Funding Rate Drops – Bullish Setup Takes Shape

Bitcoin continues to consolidate just below its all-time high of $112K, holding firmly above key support at $105K despite repeated bearish attempts to push the price lower. This tight trading range reflects market uncertainty, yet the structure favors bulls as long as support levels remain intact.

Meanwhile, macroeconomic conditions are evolving rapidly. The US Congress recently passed President Donald Trump’s “big, beautiful” economic package ahead of the self-imposed July 4 deadline, signaling a new phase of fiscal stimulus marked by tax cuts and aggressive spending. Combined with strong job reports, these factors suggest inflation may soon accelerate — a trend that historically supports Bitcoin as a hedge against fiat devaluation.

On the market sentiment side, funding rates provide a crucial clue. According to top analyst On-Chain Mind, the 30-day average of Bitcoin perpetual funding rates is currently very low. This reflects a lack of excessive greed and typically marks a favorable setup for bullish continuation. Historically, periods of low funding rates have preceded major upward moves, especially when paired with strong macro tailwinds. With economic pressure building and Bitcoin still in a bullish structure, the coming days could define the next major move for the world’s largest cryptocurrency.

Calm Before The Breakout: Bitcoin Gains Strength Above $107K

Bitcoin is up more than 3% since the start of July, holding firmly above the $107,000 local low despite repeated resistance at the $110,000 level. This sustained strength signals underlying buyer support and growing momentum as BTC continues to consolidate just below all-time highs. The $110K resistance remains a critical ceiling — once breached, analysts expect a strong move into price discovery as bullish momentum builds.

So far, the market has digested a wave of macroeconomic and geopolitical developments. Global trade dynamics — including rising tariffs, export restrictions, and deglobalization trends — continue to shape sentiment. Yet, compared to the sharp volatility seen earlier this year, both Bitcoin and US equities appear more resilient. This suggests that much of the uncertainty has already been priced in, reducing the downside risk for risk assets like BTC.

A key technical factor reinforcing the bullish case is the low 30-day average of funding rates. This indicator reflects a neutral-to-cautiously optimistic market environment — a stark contrast to overheated bullish phases that often precede corrections. Calm periods like this often set the stage for explosive moves, particularly when supply squeezes and strong demand meet a macro environment ripe for risk-taking. With BTC coiling tightly and sentiment balanced, a breakout could be imminent.

Bitcoin Funding rates - All Exchanges | Source: On-Chain Mind on X

BTC Holds Steady as Bulls Eye $109,300 Breakout

The 4-hour chart shows Bitcoin (BTC) consolidating within a tight range, holding above the key support at $107,000 and testing resistance around $109,300. This price level has consistently acted as a local ceiling, with several failed breakout attempts in late June and early July. However, the bulls continue to defend higher lows, signaling strength and setting the stage for a potential breakout.

BTC flirting with a breakout | Source: BTCUSDT chart on TradingView

The 50, 100, and 200 simple moving averages (SMAs) are stacked close together and gradually trending upward, suggesting the consolidation phase could soon transition into a more directional move. Volume remains low, which often precedes a volatility spike, especially near key resistance levels.

The $103,600 support remains the crucial line in the sand for bulls. A breakdown below that level would invalidate the short-term bullish structure and likely lead to a deeper retrace. On the upside, a daily close above $109,300 with volume confirmation could trigger a rally toward price discovery above the all-time high.

Featured image from Dall-E, chart from TradingView

Bitcoin Moving With Stocks, But Ethereum’s Correlation Is Fading

Bitcoin has been showing notable correlation to the stock equities recently, but data shows Ethereum is charting a more independent path.

Bitcoin & Ethereum Showing Different Degrees Of Correlation To Other Assets

In a post on X, the institutional DeFi solutions provider Sentora (previously IntoTheBlock) has talked about how the latest Correlation Matrix has looked between the two largest cryptocurrencies, Bitcoin and Ethereum, and traditional markets. The “Correlation Matrix” here refers to an indicator that tells us how closely tied together the prices of two given assets currently are.

When the value of this metric is positive, it means the assets are reacting to moves in each other by moving in the same direction to some degree. The closer the metric is to 1, the stronger the relationship.

On the other hand, the indicator being under the zero mark implies there is a negative correlation between the two prices. That is, they are moving in opposite directions. For this side of the scale, the extreme point is -1.

Naturally, the Correlation Matrix showing a value exactly equal to zero suggests there is no correlation whatsoever between the assets. In statistics, the two variables are said to be ‘independent’ in this case.

Now, here is the table shared by Sentora that shows how the Correlation Matrix of Bitcoin and Ethereum stands with respect to some traditional markets:

Bitcoin Correlation Matrix

As is visible above, the index that Bitcoin and Ethereum have the strongest positive correlation to is DAX. That said, the Correlation Matrix stands at 0.46 for ETH, meaning that while some correlation does exist, it’s not too intense. This isn’t the case for Bitcoin, which has the indicator sitting at 0.85, indicating its price is pretty in tandem with DAX.

Likewise, BTC has a notable correlation to other stock market indices, with a metric value of 0.7, 0.68, and 0.69 for the Russel 2000, S&P 500, and Dow Jones Industrial Average, respectively. In contrast, Ethereum is almost fully independent from these indices, with the indicator standing quite close to zero for each of them.

For US Dollar Index and VIX Index, the last two markets listed in the table, the Correlation Matrix is inside the negative zone for Bitcoin. This means that the digital asset has actively been moving against these indices.

“Right now, the spotlight is on the U.S. Dollar Index (DXY): if geopolitical and macro tensions drag the dollar lower, that backdrop could create room for another leg higher in BTC,” notes the analytics firm.

Just like with the stocks, Ethereum is displaying little correlation to DXY and VIX, further reinforcing that the cryptocurrency has been following a trajectory of its own recently.

BTC Price

Bitcoin is mounting another bullish push as its price surges to $109,400, but it remains to be seen whether its fate will be any different from the weekend move.

Bitcoin Price Chart

Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

On Wednesday afternoon, Bitcoin (BTC) surged to a remarkable all-time high (ATH) of $112,022, breaking free from its previous consolidation phase and lower resistance levels. 

Bitcoin Rally Faces Critical Test

John Glover, the chief investment officer at crypto lending platform Ledn and a former managing director at Barclays Investment Bank, noted that the recent rally appears to be a retest of the previous all-time high set on May 22, which encountered selling pressure. 

As some investors opted to take profits, notable publicly traded companies, including Trump Media & Technology Group and GameStop, have announced their intentions to purchase Bitcoin to bolster their treasuries. 

Glover emphasized that the competition among these companies to accumulate Bitcoin could significantly impact market dynamics, given that the cryptocurrency’s popularity among publicly traded companies appears to be growing.

However, the sustainability of Bitcoin’s rally largely hinges on macroeconomic conditions and developments in trade negotiations. Sid Powell, CEO of crypto asset-management firm Maple, highlighted that any setbacks in trade discussions before President Donald Trump’s August 1 deadline could pose challenges for Bitcoin’s price movement. 

Conversely, if trade negotiations progress and inflation continues to ease, the Federal Reserve (Fed) might consider cutting interest rates, which could further support Bitcoin’s upward trajectory.

Scenarios For A Potential Breakout Toward $130,000

Market expert Doctor Profit recently took to social media, declaring that Bitcoin’s rally is just beginning. He confidently stated, “THE PARTY IS NOT OVER YET,” predicting a potential new all-time high soon. 

His analysis indicates a target range of $120,000 to $130,000 for this cycle. According to Doctor Profit, two potential scenarios could pave the way for this breakout. 

The first involves Bitcoin reaching the $113,000 to $114,000 range, followed by a correction to the $92,000 to $93,000 level, which aligns with a major liquidity pool and the CME gap. A rebound from this lower range could set the stage for a rapid ascent toward the $120,000 mark.

The second, more aggressive scenario suggests that Bitcoin could break through the $113,000 to $114,000 barrier and continue its upward momentum without revisiting lower liquidity levels. 

In either case, the $113,000 to $114,000 range is critical, as the market’s reaction to this level will significantly influence the speed and direction of Bitcoin’s next leg.

Bitcoin

When writing, BTC has retraced back toward $111,422, attempting to make this level its new support floor for further price appreciation. 

Featured image from DALL-E, chart from TradingView.com 

Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below $107,000

A new analysis shows that Bitcoin (BTC) may be on the verge of a calculated price crash that could take it below $107,000 before igniting the next bullish rally. The cryptocurrency market structure currently reflects a short-term bearish correction within a broader bullish trend, supporting the likelihood of a potential surge to new all-time highs soon. 

Bitcoin Prepares For Final Dip Below $107,000

Crypto market expert, Tehi Thomas, in a recent TradingView post, suggested that Bitcoin’s current structure may be entering its final corrective phase. The analyst points to a potential price crash below the $107,000 level as part of a strategic play by smart money. 

The analyst shared a chart showing Bitcoin forming consecutive lower highs while its price presses downwards. Across these highs, the market is also respecting a descending trendline, a pattern which often indicates short-term bearish pressure. Notably, this trendline appears to be serving as a potential trap designed to engineer a liquidity grab and discount entry. 

Bitcoin

Thomas notes that once the key zone and sell-side liquidity area around $107,800 is taken, Bitcoin’s price is expected to dip into a nearby Fair Value Gap (FVG), extending down to the $106,500-$106,200 region. This FVG overlaps with critical Fibonacci levels, particularly the 0.786 retracement near $106,200, strengthening the confluence for a potential reversal point

Thomas has highlighted this $106,200 level as a high-probability buy zone, where institutions may re-enter the market. Notably, the analyst’s anticipated price correction for Bitcoin is not seen as a breakdown of structure or market failure, but rather a calculated liquidity grab to fill inefficiencies left from the previous lag. As long as the price respects the $106,000 range and displays bullish order flow afterward, its projected correction is expected to complete the accumulation phase. 

All-Time Highs In Sight After Key Reversal

Following Bitcoin’s projected sweep and fill of the FVG, the cryptocurrency is expected to form a reversal structure that could kick off the next major rally. Despite the projected crash below $107,000, Thomas asserts that Bitcoin’s overall macro trend remains bullish. Moreover, this short-term pullback is considered a setup for a much larger move toward a new all-time high.

Thomas’s chart marks the $110,500 zone as the final magnet and ATH target, with a significant layer of untapped liquidity above it. The analyst’s thesis is that once the sell-side pressure is exhausted and displacement confirms the shift in direction, Bitcoin could once again regain bullish momentum. 

Furthermore, the TradingView expert has pointed out that the FVG near $106,200 acts as both a liquidity magnet and a springboard, set to launch the flagship cryptocurrency into price discovery mode once again. Currently, Bitcoin is trading at $108,744, meaning a potential surge to the projected ATH level at $110,500 will represent a 1.61% increase. 

Bitcoin

Dogecoin To $3.94 This Cycle? This Chart Says It’s No Meme

In a monthly chart shared on July 8, crypto analyst Kevin (@Kev_Capital_TA) outlined a long-term bullish thesis for Dogecoin (DOGE), identifying a clear historical pattern that may signal the next major leg in its price trajectory. The focal point of the chart is the 1.618 Fibonacci extension—used as a key projection level—which Kevin implies is Dogecoin’s next major upside target. Based on the chart, this level corresponds to $3.94.

History Says Dogecoin Will Hit $3.94

Dogecoin’s price action has followed a remarkably consistent macro-pattern across three major market phases. In each, DOGE formed a clear descending wedge, followed by an impulsive breakout and parabolic rally. These structures are annotated in yellow on the chart and preceded both the 2017 and 2021 bull runs. The most recent wedge breakout completed in November last year, with a retest of the breakout currently taking place.

Dogecoin price analysis

Kevin marks two historical Fibonacci extension levels that were reached following previous consolidations. Both peaked near the 1.618 Fibonacci extension of their respective bases—a common target for extended bullish moves in technical analysis. For the current structure, this places DOGE’s long-term Fibonacci target near $3.94, which would represent a roughly 2,218% move from the current price around $0.17.

Indicators further support the notion of a long-term base having formed. The RSI (Relative Strength Index) on the monthly chart has just reclaimed the neutral 50 zone, currently sitting at 50.39, a signal often interpreted as the transition from bearish to bullish control. In prior cycle, the monthly RSI always topped above 90. Notably, the monthly RSI is also in an uptrend since mid-2022, respecting the yellow trendline drawn by the analyst.

A significant confluence comes from the Stochastic RSI, which has just completed a bottoming crossover in the oversold region. The last time this occurred, in early 2020, Dogecoin followed with a parabolic surge. This same dynamic now appears to be setting up again, echoing the previous cycle.

Also noteworthy is the chart’s structural emphasis on 0.382 Fibonacci retracement support, currently plotted at $0.13778, from which Dogecoin appears to be bouncing. This aligns with the green supertrend support, suggesting a critical local floor has been found.

While the purple zones on the chart above $0.50 are not formal price targets, Kevin clarified in a response to a community member that they are key resistance zones—intermediary checkpoints before DOGE can make a full move toward its final Fibonacci extension. These zones span from approximately $1.00 to $1.20 as well as from $2.30 to $2.50, and eventually up toward the $3.94 range.

Kevin emphasized that “as well as Dogecoin has done this cycle especially compared to other altcoins, it still has not even come close to what it is capable of. That will change in the right environment.” He further noted that Dogecoin has already seen a 10x move from its bear market low to the local highs, but believes “there’s still work to do” when the cycle of quantitative tightening by the US Federal Reserve ends.

The chart and commentary triggered a strong community reaction. Users like @MonetaryRegimee declared “We always hit the 1.618,” to which Kevin replied, “Typically yes,” reinforcing his confidence in the fractal repetition. Others described the current price action as “the calm before the storm.”

Whether Dogecoin ultimately fulfills its fractal-driven destiny toward $3.94 remains to be seen. But the historical technical symmetry laid out by Kevin’s chart offers a compelling case that DOGE’s long-term rally may be far from over.

At press time, DOGE traded at $0.174.

Dogecoin price

U.S. Digital Assets Tax Policy Getting Hearing During ‘Crypto Week’

As the U.S. House of Representatives digs into digital assets policy during what lawmakers have styled “Crypto Week” next week, the committee that focuses on tax policy will discuss the proper way forward for taxing crypto.

The chairman of the House Ways and Means Committee, Representative Jason Smith, announced a July 16 hearing of the oversight subcommittee to look at the “affirmative steps needed to place a tax policy framework on digital assets,” according to a statement on Wednesday.

Crypto taxation is next in line behind overall regulation of the markets and the oversight of stablecoins as a leading policy issue expected to get attention in Congress. The two primary legislative efforts are both expected to see action next week, including a potential House vote to approve the Senate's recently passed bill to regulate stablecoin issuers.

Taxation on digital assets activity has long been a millstone around the industry's neck, because until crypto taxes get a reliable, rational U.S. tax regime, investors have to face uncertainty in their accounting approach. The House hearing announcement comes on the heels of Senator Cynthia Lummis' introduction of a bill last week in the other chamber of Congress that addresses some of the lingering complaints of cryptocurrency users.

Lummis' legislation would set a threshold of $300 on crypto transactions that would need to factor into a users' tax calculations, freeing up people's small, day-to-day transactions from capital-gains headaches — limited to a total of $5,000 a year. And it would also eliminate double taxation on crypto given in staking, mining, airdrops and forks, eliminating the initial tax when the rewards are received and focusing only on taxing gains from the eventual sale.

It's unclear what the House has in mind just yet, but the Republican-led committee is looking for industry-friendly policy, with the hearing entitled, “Making America the Crypto Capital

of the World: Ensuring Digital Asset Policy Built for the 21st Century.”

Read More: Crypto Tax Proposal That Didn't Make It to Trump's Budget Bill Pushed on Its Own

Sei Network Unlocks Japan Market After Hitting $626M In TVL

US traders and DeFi fans have turned their eyes to Sei Network (SEI) after its Total Value Locked (TVL) climbed past $626 million. That leap marks a huge rise from about $60 million at the start of 2024, showing a strong wave of new funds and fresh users staking assets on the chain.

Sei Network TVL Rockets

According to DeFiLlama, TVL on Sei surged from roughly $60 million in January 2024 to almost $700 million at its peak. That represents nearly a 10 × gain in just six months—growth most rival chains only manage in single‑digit or low double‑digit jumps of 10–50 % over the same stretch. Based on reports by crypto fans on X, this kind of TVL swing is very rare in today’s tight market.

On‑Chain Activity Picks Up

Crypto observer Kyledoops shared that daily transfers and smart‑contract calls on Sei have climbed steadily. “More capital is flowing in and on‑chain actions are rising,” he wrote.

Some market observers say that some parts of the ecosystem saw 10–50 % jumps in TVL, with a few protocols posting even bigger gains. This buzz comes at a time when many DeFi projects are struggling to grow.


Japan Approval Draws Investors

Based on reports, a key boost arrived when Sei earned approval from the Japan Financial Services Agency. That nod gives it a regulated path into one of the world’s strictest crypto markets.

Artemis Analytics noted that daily active addresses hit a two‑year high right after the JFSA greenlight. Institutions are said to be taking a closer look at trading and custody options in Tokyo.

Price Swings Test Support

SEI’s token price more than doubled in June after a US government‑backed stablecoin pilot was announced and after SEI Labs proposed SIP‑3, a shift to an EVM‑only chain.

Even with that jump, the coin still sits about 78 % below its March 2024 peak, trading around $0.26 today. Some technical analysts point to a chart floor at $0.25. A breach there could push SEI closer to $0.20, which would put pressure on holders who bought in at higher levels.

Sei Price Forecast

According to current projections, SEI is set to drop by 25% and reach $0.19 by August 8, 2025. Based on technical indicators, market sentiment remains Bullish while the Fear & Greed Index sits at 66 (Greed).

Over the last 30 days, SEI logged 17/30 (57%) green days and saw 19% price swings in that window. These figures suggest that short‑term dips could be sharp, but buyers may view lower prices as a chance to get in.

Featured image from Unsplash, chart from TradingView

Bitcoin Tops $111K, on Brink of Breaking Record High; Ether’s 6% Jump Leads Major Cryptos

Bitcoin (BTC) broke out of its recent very tight trading range during U.S. Wednesday afternoon hours, threatening to topple its May record of $112,000.

The largest crypto briefly notched a new record in U.S. dollar terms on some exchanges including Binance, Coinbase and Bitstamp, before retreating towards $111,000. However, price data aggregators including CoinDesk, CoinGecko and CoinMarketCap show that BTC remained just below its May 22 peak.

The move came amid a broader crypto rally that also saw Ethereum's ether (ETH) surge 6% to $2,760, its highest level in a month. Bitcoin itself was ahead 2.4% at $111,400 at press time.

During today's swift move higher, some $425 million in leveraged short positions were liquidated across all crypto derivatives, CoinGlass data shows.

For BTC, the area around the $110,000 level has been a significant barrier over the past several weeks with investors taking profits and shorts piling each time the price neared that level.

Checking crypto-related stocks, Strategy (MSTR) is higher by 4.4% and at $414, only a few dollars shy of its highest level of 2025 (though still well below its record high of $543 set late last year). Coinbase (COIN) is ahead 5%. Bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) are up roughly 6%.

Still, market watchers noted that the slow, quiet buildup could be a bullish setup.

“Crypto feels so quiet, [while] bitcoin is ready to move,” wrote Charlie Morris, chief investment officer at ByteTree, in a report.

Morris pointed out that bitcoin’s volatility has steadily declined, a pattern that historically preceded large upward moves.

Bitcoin 90-day and 360-day volatility (ByteTree)

“The setup for the next one is looking good,” he said. “As I keep on saying, the quiet bulls are the best.”

Joel Kruger, market strategist at LMAX Group, pointed to ether’s strength above key technical support levels and growing demand from long-only institutions betting on its future role in settlement infrastructure and asset tokenization.

That view was echoed by digital asset manager Bitwise's analysts, who named ETH as one of the “cleanest” token plays to bet on the red-hot tokenization trend, The Block reported.

UPDATE (July 9, 2025, 20:30 UTC): Adds more details throughout the story.

Revolut Seeks $1B in New Funding at $65B Valuation: FT

Revolut, Europe’s most valuable start-up, is in talks to raise $1 billion in fresh capital at a $65 billion valuation, according to the Financial Times.

The funding would mark a significant step in the fintech group’s global expansion strategy and represents a 44% increase over its last known valuation of $45 billion from a secondary share sale one year ago.

The London-based company plans to raise the funds through a combination of newly issued shares and the sale of existing stock, the report said.

Greenoaks, a U.S. investment firm that specializes in backing high-growth technology ventures like Robinhood and Stripe, is in talks to lead the round, although final terms have not been confirmed.

The jump in valuation would also push Revolut closer to an internal milestone. CEO Nik Storonsky is eligible for a substantial compensation package if the company reaches a $150 billion valuation, according to the Financial Times.

Revolut offers users the possibility of gaining exposure to various cryptocurrencies and crypto stocks. It’s working on rolling out Lightning Network payments for European users.