Bitcoin (BTC) is once again in the spotlight after rising above $107,000, sparking optimism across the crypto market. Analysts now believe that BTC could soar past its previous highs if it breaks through the next critical resistance level near $109,000. With institutional inflows rising and technical momentum building, market sentiment appears to be turning more bullish.

Price Surge Signals Renewed Confidence

On June 26, BTC posted a nearly 1.45% gain, rebounding from a 24-hour low of $104,886. Despite recent geopolitical concerns—particularly surrounding the Iran-Israel conflict—Bitcoin has recovered steadily, aided by a June 24 ceasefire report. Over the past week, the cryptocurrency has added 2%, even though it remains down 1% month-to-date.

Open interest in BTC futures also jumped 5% within 24 hours, according to CoinGlass, reflecting increasing investor appetite for leveraged exposure. Although trading volume declined to $46.38 billion, the price action suggests that traders are positioning for another upward leg—pending confirmation from key technical levels.

Resistance at $109K Is the Next Major Test

According to market analyst Michael van de Poppe, BTC has found support at $106,720 and is now targeting resistance at $108,924. If the price successfully breaks above this level, it could trigger a move toward a new all-time high (ATH) above $111,000. Van de Poppe believes this rally may occur as early as July and expects altcoins to follow once Bitcoin clears the barrier.

While price momentum has returned, a full breakout requires sustained strength and confirmation above resistance. Failing to clear $109,000 could mean continued consolidation, but the structure remains favorable for bulls as long as support holds firm.

Institutional Flows Reinforce Bullish Outlook

Recent institutional investment flows further support a bullish scenario. U.S. Spot Bitcoin ETFs saw a combined inflow of nearly $939 million on June 24 and 25 alone—$588.6 million on Tuesday and $350.6 million the day before. This surge reflects renewed interest from professional investors betting on Bitcoin’s long-term potential.

Notably, Robert Kiyosaki reiterated his forecast that Bitcoin could reach $1 million within five years. While such projections are speculative, they underscore growing confidence in the asset’s role as a long-term store of value. With positive technicals and strong institutional backing, Bitcoin’s path toward a new ATH appears increasingly plausible—if it can decisively break $109K.

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