Bitcoin climbs above $108,000, sparking hopes for a return to all-time highs.
- Bitcoin jumped nearly 2% to $108,182.
- Traders expect a push toward $111,000.
- Geopolitical risks could still affect markets.
Bitcoin Price Rises After Recent Dip
Bitcoin gained new momentum on June 25, reaching $108,182 on the Bitstamp exchange. This marks a $10,000 increase in just three days and comes after uncertainty caused by global tensions. The price move followed easing concerns in the Middle East, which gave markets some relief. Traders now aim for a new all-time high.
Traders See Bullish Signals
Market experts believe the recent price jump shows that bulls are in control. Analyst Matthew Hyland said Bitcoin could rise to $109,000 next. Another expert, known as Titan of Crypto, pointed to a price breakout in the Ichimoku Cloud chart. This is a type of analysis used to track trends. Titan said that if Bitcoin clears its next hurdle, it could reach $111,000.
Short Sellers Face Liquidation
The rise in price caused many traders with short positions to lose money. These are bets that Bitcoin’s price would fall. When the price increased, those positions were automatically closed. This process, called liquidation, added more energy to the rally. Data from CoinGlass confirmed that high-leverage trades were hit the hardest.
Global Events Still Threaten Stability
While the market is currently strong, risks from global events remain. A report from trading firm QCP Capital warned about growing geopolitical risks. It mentioned the conflict in Ukraine and concerns about European security. These risks could shake investor confidence again.
Stock Market Moves in Sync
Other markets also reacted to calmer global news. The S&P 500 rose 0.2% while the Nasdaq went up 0.5%. These gains show how traditional and crypto markets often move together during times of reduced tension.
Source: cointelegraph.com