Bitcoin reaches fresh all-time high in market-wide breakout — what’s next?

[Redator]

A thesis of failed opportunities by sellers to send the crypto market to correct lower had been a sign of a potential move to new all-time highs, which just happened today.

Cryptocurrencies are in a frenzy, and this happens after months of muted performance and range-bound markets despite the cryptos’ tendency to generate lots of market movement.

A general trend of entries from financial institutions into Cryptocurrencies, allowed by progressively lenient regulations, is bringing non-negligible flows and adding an even more solid backstop demand to digital assets.

Traditional investors are progressively entering the most recent primary market through ETFs, with the latest ETF launch opening the door for Solana.

This comes amid market participants trying to diversify from the US Dollar.

Trump’s frantic policy is creating significant uncertainty, particularly for the Federal Reserve, which is seeing chances to lose some of its political independence. The US President is doing the most to influence the FED board members, regularly insulting Jerome Powell on his Truth Social.

Read More: Ethereum’s steady performance sets the stage for an upside breakout

The latest move to all-time highs liquidated many participants who were betting on no-more new highs for Bitcoin – You can take a look at these flows right here.

A $600M liquidation won’t be enough to take markets to continuous all-time highs; however, with a real appetite for risk and Technology investments (as seen with the Nasdaq making daily ATH), the move might just continue.

Bitcoin Daily and Intra-Day analysis

Bitcoin Daily Chart

Bitcoin Daily Chart, July 10, 2025 – Source: TradingView

Daily Bitcoin Charts are showing decent strength in the most recent moves up – particularly after War fears failed to create a strong reversal in prices. The latest gap down just breaching the $100,000 mark quickly got bought by dip buyers.

Failed patterns in technical analysis tend to be major signs of reversals, as it is currently the case in Crypto Markets.

After breaching the $113,000 level, Fibonacci extensions (127% to 138%) point to Potential Resistance at $120,000, and a further breakout to Potential Key Resistance at $135,000 (161.8%).

You can check this guideline on how to spot potential resistances and new zones of interest in price discovery with fibonacci extensions with this article.

Bitcoin 2H Charts

Bitcoin 2H Chart, July 10, 2025 – Source: TradingView

Rangebound conditions in the world's leading cryptocurrency had built-up Volume-At-Price at its all-time highs, good conditions to launch the crypto to discover new levels.

A fail to retest again the lower end of the 100,000 to 110,000 range led to buyers stepping in before, leading to current's impulsive move.

A measured move using the previous impulse points to a 115,000 minor potential resistance. The RSI is largely overbought which may calm the buying flows, however only temporarily.

It will be interesting to look at the reaction to a potential retest of the 110,000 pivot to spot if more buyers step in – in the meantime, the direction has higher probabilities of more upside than downside, that is if nothing crazy happens in macro.

Crypto Market Cap

Crypto Total Market Cap, July 10, 2025 – Source: TradingView

The overall market cap still hasn't caught up to the December 2024 $3.86T highs, and the way this impulsive move is going, it seems that excepted any surprising negative surprise or geopolitical turmoil, we should be at least going back to the previous highs.

Markets are currently standing about 6% to the Market Cap highs.

With Bitcoin making all-time highs, it might drag up other altcoins with it – Some names like ADA, SUI, XRP and others are getting lifted by the newfound bullish sentiment.
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