#BTCBreaksATH Bitcoin, the crypto market's flagship asset, is painting a compelling breakout story, decisively conquering two major trading barriers that were standing in the way of a short-term bull run. And with BTC once again breaking price records and firmly above the $112,000 resistance level, what should traders expect next?
First, some context: With the S&P 500 and Nasdaq Composite closing at record highs for the third time in four sessions and gold futures trading at $3,370 an ounce, risk assets across the board are catching a bid as the Federal Reserve maintains its patient stance on monetary policy.
Bitcoin's momentum also coincides with blowout U.S. jobs data, with non-farm payrolls growing 147,000 in June versus forecasts of 110,000. While strong employment data initially sent Bitcoin below $109,000 on rate hike fears, the market quickly absorbed the selling and pushed to new local highs.
Institutional adoption continues as the primary narrative driver. July has already seen Bitcoin ETFs pushing cumulative flows to over $50 billion. This persistent institutional bid provides crucial support during any pullbacks and validates Bitcoin's evolution from speculative asset to portfolio allocation.
Bitcoin Breaks Into New Price Territory: What Happens Next?
Bitcoin has broken out. Can it maintain its bullish momentum? Let's take a look at the charts.
By Jose Antonio Lanz
6 min read
Jul 10, 2025
Bitcoin, the crypto market's flagship asset, is painting a compelling breakout story, decisively conquering two major trading barriers that were standing in the way of a short-term bull run. And with BTC once again breaking price records and firmly above the $112,000 resistance level, what should traders expect next?
First, some context: With the S&P 500 and Nasdaq Composite closing at record highs for the third time in four sessions and gold futures trading at $3,370 an ounce, risk assets across the board are catching a bid as the Federal Reserve maintains its patient stance on monetary policy.
Bitcoin's momentum also coincides with blowout U.S. jobs data, with non-farm payrolls growing 147,000 in June versus forecasts of 110,000. While strong employment data initially sent Bitcoin below $109,000 on rate hike fears, the market quickly absorbed the selling and pushed to new local highs.
Institutional adoption continues as the primary narrative driver. July has already seen Bitcoin ETFs pushing cumulative flows to over $50 billion. This persistent institutional bid provides crucial support during any pullbacks and validates Bitcoin's evolution from speculative asset to portfolio allocation.
The convergence of technical breakouts and institutional accumulation has traders wondering what comes next as Bitcoin has seemingly now crossed the final hurdle on its path into uncharted territory.
Bitcoin charts: Double breakout targets final resistance
Bitcoin's surge to $113K marks new all-time high territory and is a decisive technical breakout from two constraining patterns that have capped price action for weeks.
The 4-hour chart reveals a clean break above a symmetrical triangle formation, while the daily timeframe shows less bullish momentum with smaller movements.
This is expected in this kind of pattern, but such a long candlestick leaves little room for doubt. The breakout confirmation is clear—enough to turn almost all the key indicators to bullish in intraday timeframnes.
