- Bitcoin surges by 25.5% monthly, reaching $111,726 with optimism and strong bullish momentum.
- An eight week green streak, Golden Cross, and high RSI at 68.61 show sustained uptrend with potential for further gains.
- Key support is at $104K; BTC eyes $126K–$133K next, with $148K possible if $120K breaks and buying pressure holds.
Bitcoin reached a new all-time high of $111,726 today, driven by rising optimism surrounding the proposed GENIUS Act. The bill, introduced under President Trump’s administration, would establish the United States’ first national stablecoin framework.
On a broader view, Bitcoin has gained 4% in the past 24 hours, a weekly rise of 9% and a monthly surge of 25.50%. In 2025, Bitcoin is up by 19%, and 48% higher than the April 7 dip to $75,000 following Trump’s broad tariff measures. The asset’s market cap gained by 3.90% to $2.2 trillion, while 24 hour volume jumped by 69.84% to $91.53 billion.
Eight Consecutive Green Weekly Candles
The breakout to $111,726 confirmed a clear move beyond the $110K resistance zone, placing Bitcoin firmly in new levels. At press time, BTC was trading at $110,977.22. This extends an eight-week streak of green candles, a rare pattern suggesting strong upward momentum.
The trend pattern shows higher highs and higher lows, a sign of a continued uptrend. Bitcoin is well above key moving averages, trading far beyond the 200 day MA at $98K and 50 day MA at $104K. Additionally, $104K has flipped from a resistance level into immediate support, strengthening the bullish case.
Technical Indicators Suggest Buying Pressure
The RSI is at 68.61, nearing the overbought level but still under 70. This indicates strong momentum suggesting potential for more gains. The MACD shows further bullish pressure, with the MACD line at 5,180.43 well above the signal line at 3,641.17.
The expanding gap between these lines supports continued buying interest. Volume also confirms this trend, with weekly volume at 1.93K BTC.
Despite the rally, activity remains below overbought levels, which may allow further upside. Recent days had a sharp increase in trading volume, which now exceeds $91.5 billion, validating strong activity from both institutional and retail traders.
Golden Cross and Price Divergence
A Golden Cross formed earlier in May as the 50 day MA crossed above the 200 day MA. Historically, this crossover indicates strong bullish continuation. Bitcoin’s price divergence from both moving averages confirms buyers are firmly in control. Since late April, the asset has surged nearly 34%, rising from $83K to over $111K.
The support zone around $104K is critical, while $98K (the 200-day MA) acts as a safety level in case of a pullback. Bitcoin now trades without overhead resistance, with psychological zones at $120K, $126K, and $133K.
Potential Price Range for June 2025
On the upside, if buying pressure holds, Bitcoin may surge toward $126,000–$133,000. A break above $120K may lead to a test of $148,000. However, if resistance near the current high causes rejection, a pullback to $98,000–$104,000 may occur, with $95,000 acting as deeper support.
Bitcoin’s breakout above $111K follows months of steady gains, legislative optimism, and sustained buying momentum. Key indicators support further upside, while immediate support levels provide safety. With no historical resistance ahead, the market now eyes new price levels while monitoring for signs of exhaustion.
