Bitcoin (BTC) Price Prediction: Bitcoin Bulls Target New Highs Despite $110K Resistance Flop

As of July 5, 2025, Bitcoin is trading below $108,000 support but holding steady after its latest breakout attempt. While $110,000 remains a tough resistance level, strong fundamentals and growing market confidence suggest the uptrend may still have room to run.

The Bitcoin price today continues a sluggish bearish move after attempting to break through $110,600, a level tied to Fibonacci resistance. This was Bitcoin’s third rejection at that price point, sparking concerns of a potential short-term correction. However, technical indicators remain mixed rather than decisively bearish.

Bitcoin has hit the top of its long-term Bull Flag pattern but faced early rejection, with a breakout above this level potentially targeting $119,500 in the short term. Source: TradingShot on TradingView

The breakout from a multi-week symmetrical triangle was clean, signaling strength in trend structure. On the daily chart, the 50-day and 100-day moving averages are acting as dynamic support near $107,500 and $106,000, respectively. RSI remains above 50, and although it’s showing some bearish divergence, the overall momentum hasn’ completely faded.

“Hold = I TP my short and aim for a sweep of ATH this month,” said pseudonymous trader KillaXBT, pointing to the potential for new all-time highs if the $107,500-$108,000 support zone holds. According to CoinGlass data, a liquidity cluster of $121 million just above $110,000 suggests a short squeeze could propel BTC toward $114,000 if bulls reclaim control.

Aside from technicals, macroeconomic developments are also influencing Bitcoin’s direction. President Trump’s “Big Beautiful Bill,” a massive spending initiative expected to balloon U.S. debt to $40 trillion by year-end, has drawn comparisons to the 2020 COVID-era stimulus that triggered a 38% Bitcoin rally.

Congress has passed Trump’s ‘One Big Beautiful Bill,’ with tax cuts, spending hikes, and a multi-trillion dollar debt ceiling increase, now awaiting his signature. Source: Pop Base via X

Historically, Bitcoin has shown a strong correlation with periods of aggressive government spending, often rallying as investors seek inflation-resistant assets. “Never in history has the U.S. borrowed even remotely near these levels. This is a crisis,” noted The Kobeissi Letter, reinforcing the growing narrative of Bitcoin as a hedge against unchecked fiscal expansion.

Crypto analyst Kapoor Kshitiz noted that recent upward momentum has been supported by rising open interest, which hit $38 billion this week. This signals heightened market activity, though it also suggests a large number of long positions already in play.

Bitcoin retested $110K as open interest surged 15% to $38B between July 1–3, raising the stakes for either a breakout to new highs or another rejection. Source: Kapoor Kshitiz via X

Pineda added, “If these conditions persist, buying pressure could become even more significant in the short term.” Still, the formation of a sideways trading channel with resistance at $111,000 and support at $100,000 indicates the possibility of further consolidation.

Meanwhile, the Bitcoin ETF news front remains a key focus. Analysts are watching closely for regulatory clarity on additional ETF products, which could further ignite institutional flows into BTC.

As it stands, Bitcoin price prediction models remain divided. Bears point to historical rejections near all-time highs, warning that failure to break $110K could lead to a drop toward $105K or even $100K. However, the current price structure, global liquidity trends, and macro tailwinds indicate bullish momentum ahead.

The Crypto Fear & Greed Index now sits at 50, reflecting a neutral-to-bullish sentiment shift after dipping into “Fear” territory last month. If BTC climbs further, it may reinforce buying interest, especially from retail traders.

Bitcoin was trading at around $107,943, down 1.55% in the last 24 hours at press time. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

While short-term consolidation remains a risk, the broader outlook remains positive. From a technical point, a sustained break above the $110,000-$112,000 supply zone could open the door to $120K and beyond, with longer-term targets as high as $150K if historical patterns and fiscal catalysts repeat.

As of now, Bitcoin bulls are regrouping. Whether the next move is a breakout or another cooldown, the Bitcoin long-term outlook continues to attract both traders and institutions betting on new highs in the second half of 2025.