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Crypto Express

07/11 01:52

Bitcoin: Here’s why $112K could be just the start

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Bitcoin: Here’s why $112K could be just the start of BTC’s rise!
Is BTC’s early July breakout setting the stage for a parabolic Q3 run?

Bitcoin’s rise shows structural backing, unlike May’s leverage-driven breakout. Key resistance sits at $112,361, where a short squeeze could trigger upside, but further gains hinge on Q3 liquidity dynamics.
On the 9th of July, Bitcoin’s [BTC] rise to a new all-time high at $111,936 sparked fresh speculation on how far this breakout can stretch. 

At press time, traders are stacking shorts in the orderbook, as is typical when front-running a potential rejection. 

Case in point: May’s liquidity flush. When BTC failed to hold its then-ATH, it triggered the largest single-day long liquidation of the month.

In turn, setting off a deeper cascade that bottomed BTC at $100,424 exactly two weeks later.
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