Cryptonews BITCOIN, BTC, CRYPTOCURRENCY, ETHEREUM, FOOD & ENERGY, MARKET ANALYSIS, MARKET TRENDS, TRADING ACTIVITY Sophia Klein June 11, 2025 0 Comments

Bitcoin Price Regains Traction: Is a Fresh All-Time High Within Reach?

Bitcoin has seen a recent price surge, breaking above $107,000 and its key resistance levels. The cryptocurrency seems poised for potential all-time highs, with support at $108,000 and resistance at $112,500. Meanwhile, Ethereum shows positive movement as XRP faces challenges. Economic indicators also hint at slight inflation rises, which could impact market dynamics.

Bitcoin is gaining some momentum recently, as it rises above significant resistance levels. Specifically, the cryptocurrency has crossed over the $107,000 mark, signaling that a fresh surge may be underway. The trading pair BTC/USD has not only cleared the $106,250 line on its 4-hour chart, but it has also shown a solid upward trend that could lead to a new all-time high.

A fresh increase initiated above the $102,000 threshold saw Bitcoin breaking through the barriers of both $105,000 and $106,000. The price settled comfortably above the 100 and 200 simple moving averages, indicating strength in the market. Interestingly, the cryptocurrency formed a high at $110,651 before consolidating its gains. Current immediate support appears around $108,000, while $106,750 is close, acting as a critical Fib retracement level from recent lows.

Analysts warn that if Bitcoin falls below the $106,750 mark, it could point towards further declines, sending it to the $105,500 level. From there, an even deeper retreat could take it down to support zones near $104,200. On a more optimistic note, if Bitcoin can push through the $111,900 resistance, it might be on course for a significant breakout, reaching up to $112,500. A close above that level might trigger a rally towards $115,000 and potentially even $120,000.

Meanwhile, attention is also on Ethereum and XRP. Ethereum is showing bullish signals, managing to stay well above the $2,600 vicinity, indicating that traders are looking for this asset to gain further traction. Conversely, XRP has hit a snag, facing resistance near $2.350, and its price is currently consolidating.

In addition to the cryptocurrency updates, today’s economic landscape includes the release of the US Consumer Price Index for May 2025. Forecasts point toward a slight increase of +0.2% month-over-month and a year-over-year growth estimate of +2.5%, up from the previous rate of +2.3%. This uptick in consumer prices could potentially influence trading behaviors in various markets.

Bitcoin is on the rise, breaking through key resistance levels while potential growth is forecasted amid consolidation. Currently, the price movement indicates a bullish phase, with significant support and resistance levels established. Investors will watch closely as any strong movements could lead Bitcoin towards new all-time highs, particularly if external economic indicators remain favorable. Ethereum seems to follow suit, while XRP is stalling at a critical point, reflecting a mixed sentiment in the wider cryptocurrency market.

Original Source: www.actionforex.com