Bitcoin Jumps 4.3% Overnight to US$110K

Bitcoin (BTC) climbed 4.3% overnight to US$110,000 (AU$169,000), edging closer to its all-time high amid robust market activity. The rally, supported by strong institutional demand and improving liquidity, follows a brief pullback to US$100,000 that attracted bearish retail traders. Recent posts on X highlight Bitcoin futures’ open interest nearing a 2025 record, surpassing 700,000 BTC, signalling heightened market engagement. Technical indicators, including a bullish ‘golden cross’ between the 9-day and 200-day EMAs, remain intact, with historical patterns suggesting a potential climb to US$140,000 if the signal’s momentum persists, as seen in a prior 70% gain over three months.

Bitcoin’s long-term prospects are bolstered by its increasing liquidity and maturing market infrastructure. Growing trading volumes, institutional adoption through Bitcoin ETFs, and corporate treasury allocations position BTC as a compelling hedge against inflation and currency depreciation.

Bitcoin’s fixed 21-million-coin supply as a driver of future value. Key support levels at US$107,000 and US$101,000, alongside resistance at US$110,600, are critical for assessing near-term price action, with a retest of US$107,000 potentially confirming bullish continuation.

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