Bitcoin (BTC) Price: Trading Above $108,000 With Bullish Trend Line Formation

TLDR

• Bitcoin price trading above $108,000, forming a bullish trend line with potential for breakout above $110,750
• Massive 7,883 BTC net outflow from Coinbase suggests institutional accumulation
• Bitcoin recently reached an all-time high of $111,980 before correcting
• Some analysts predict Bitcoin could reach $120,000 by the end of the week
• Robert Kiyosaki forecasts Bitcoin at $250,000 by the end of 2025

Bitcoin is currently trading near $109,000, consolidating gains after reaching an all-time high of $111,980 last week. The cryptocurrency has shown resilience despite a correction that saw it drop to around $106,683 on May 25.

The price has found support above the $108,000 zone and the 100-hourly Simple Moving Average. A connecting bullish trend line is forming with support at $108,800 on the hourly chart of BTC/USD.

On the upside, immediate resistance is near the $110,000 level, with the first key resistance at $110,750. Breaking above this level could push Bitcoin to test the $111,800 resistance. If the price closes above $111,800, it might continue rising toward $113,000 and potentially $115,000.

Bitcoin Price on CoinGecko

If Bitcoin fails to break above the $110,750 resistance, it could start another correction. The first major support level is near $108,350, followed by $107,850. Further losses might push the price toward the $106,500 support, with the main support level at $105,000.

Institutional Interest Growing

Recent exchange activity suggests strong institutional interest in Bitcoin. Coinbase, the leading US-based cryptocurrency exchange, recorded a net outflow of 7,883 BTC on May 26, marking the third-largest single-day BTC outflow from the exchange in the past month.

Large Bitcoin outflows from Coinbase are often linked to institutional purchases or spot Bitcoin ETF inflows. Since most US-listed spot Bitcoin ETFs source their BTC from Coinbase, this transaction could indicate ETF involvement or a corporate acquisition.

One possible buyer is MicroStrategy, led by Michael Saylor, which recently purchased 7,390 BTC, bringing its total holdings to 576,230 BTC. Saylor has hinted at another large acquisition, though it’s not confirmed whether the latest Coinbase outflows are connected to the firm.

The Coinbase Premium Index has remained consistently positive over the past month, reflecting stronger buying pressure from US-based investors, often associated with institutional demand.

Bitcoin’s price has been volatile this week, rising past $111,900 on May 22 before correcting. Currently trading around $109,060, Bitcoin is down 0.74% over 24 hours but still up 3.30% on the week.

Market Predictions

Some market observers are making bold predictions about Bitcoin’s future price. According to posts on X by “The Bitcoin Therapist,” Bitcoin could reach $120,000 by the end of the week, requiring about a 10% rise from current levels.

Robert Kiyosaki, author of “Rich Dad Poor Dad,” has made even more optimistic forecasts. He predicts Bitcoin will climb to $250,000 by the end of 2025, emphasizing the cryptocurrency’s scarcity as a key factor. With nearly 19.87 million BTC already in circulation, only about 1.13 million remain to be mined.

Technical indicators show Bitcoin had 18 green days and 12 down days in the past 30 days, representing a 60% win rate. Price swings averaged about 5.24% during this period.

The Fear & Greed Index currently sits at 74, indicating “Greed.” High readings like this often suggest the market may have run ahead of itself, though upcoming weekly and monthly candle closings will provide better indicators of future price movements.

According to CoinCodex, Bitcoin could reach $119,495 by June 26, 2025—approximately an 8.97% increase from the current price of $109,060.

Bitcoin’s technical indicators present a mixed picture. The hourly MACD is losing pace in the bullish zone, while the hourly RSI for BTC/USD is below the 50 level. Major support levels are at $108,500 and $107,500, with major resistance at $110,000 and $110,750.

As of the latest data, Bitcoin is consolidating gains while market participants watch for a potential breakout above the $110,750 level, which could trigger a move toward new all-time highs.