BTC Price Eyes New ATH As Bullish Breakout Holds: All You Need To Know

A much-needed weekly surge helped Bitcoin (BTC) price close out of a technical pattern that defined most of the last few months.

Traders who endured the slow bleed from May’s all-time high (ATH) are now watching a classic trend resumption pattern unfold on BTC’s daily chart.

As the flagship crypto showed healthy, sustainable gains above key resistance levels, many Web3 experts are expecting the momentum to rebuild toward a fresh ATH.

BTC Price Breaks Bullish Pattern as $106,000 Becomes New Support

After hitting its ATH in May, BTC printed lower highs and lower lows inside a clearly defined downward channel.

But that structure broke on June 25, when buying pressure pushed the coin above the channel ceiling and, crucially, kept it there throughout the past few days.

These consecutive daily closes above $106,000 have turned the horizontal resistance line into immediate support for the BTC USD pair.

From a relatively long-term lens, Bitcoin has been forming a classic bullish flag pattern on its daily chart.

BTC price poked above the upper boundary of this pattern ($106,000 – $107,000 band) and is sustaining its gains amid a rise in ETF inflows.

The breakout above the bullish flag pattern has occurred right on top of the 20‑day exponential moving average (EMA), reaffirming the bullish sentiment in the market.

If BTC price continues to trade north of its 20 EMA, a surge in buying pressure could help the coin retest its ATH level before entering a potential price discovery.

However, a price decline below the 20-day or 50-day EMA could immediately open a path toward the next major support level near $101,000.

That scenario appears less likely at the moment because the daily RSI was at a healthy 58, well shy of overbought territory.

Meanwhile, the MACD indicator recently witnessed a bullish crossover, corroborating the bullish sentiment.

Open Interest Rises as Top Traders Lean Long, Retail Traders Hedge

Bitcoin’s trading activity has cooled off: total futures and options volume is down approximately 44% and 47%, respectively, over the last day.

Yet the amount of money actually parked in open positions (open interest) was creeping higher, up over 3% for futures and 1% for options.

This typically means traders are holding their positions, a sign of growing conviction rather than panic selling.

Across the whole market, the 24‑hour long/short ratio was around 1.14, so longs marginally outnumbered shorts.

However, most of the retail accounts on Binance and OKX are net short (ratios around 0.5), while the top traders hold notably more long exposure than short (1.37 by position size).

In other words, the heavyweights are leaning bullish even as smaller players hedge the rally.

Liquidation data backs that up. In the past 24 hours, roughly $19 million in positions were forcibly closed, and almost all of that pain hit short sellers.

When shorts get wiped out, it usually means the price has moved higher than they expected.

$2.2B ETF Inflows and Softening Regulation Set Stage for Bitcoin’s Next Leg?

More than $2.2 billion flowed into spot Bitcoin products last week, helping BTC price sustain its gains above the $106,000 support.

These record inflows are landing on top of upbeat fundamentals. Ethiopia, for example, has quietly earned about $55 million in just ten months by directing excess hydroelectric power into Bitcoin mining rigs.

On the policy front, the tone of US lawmakers is softening. Bipartisan approval of the GENUIS Act and progress on the crypto market-structure bill are chipping away at regulatory fears.

Popular analyst Ted reminded his followers that hastily selling Bitcoin while US stocks hit record highs and the global money supply expands “will be a huge mistake.”

In his view, the question isn’t whether Bitcoin reclaims a new all‑time high, but only when.

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