Bitcoin Bulls Near ATH — What’s Next?

[umair]

Bitcoin has surged around 7% this week, now trading near $107,000, and is inching closer to its all-time high of approximately $111,980. A mix of improving global risk sentiment — fueled by a ceasefire between Iran and Israel — and a more crypto-friendly stance from the U.S. Federal Reserve has helped drive the rally.

Key Drivers This Week
Macro Tailwinds
The ceasefire announcement boosted investor confidence, pushing BTC from roughly $98K to over $105K earlier in the week.

Institutional Accumulation
Corporations added a combined 7,597 BTC, including one fund that accumulated over 3,700 BTC in a single day. Meanwhile, spot Bitcoin ETFs recorded their highest weekly inflow of approximately $1.49 billion.

Regulatory Relief
The U.S. Federal Reserve removed “reputational risk” concerns from crypto-banking, opening the door for financial institutions to engage more freely. The FHFA also directed Fannie Mae and Freddie Mac to recognize crypto as a mortgage-related asset.

Technical Outlook
Bitcoin is just 4% below its previous May all-time high. The daily RSI is around 56, and MACD indicators remain bullish, suggesting the momentum is still in favor of the bulls. A successful breakout could lead BTC toward the $120,000 range.

What to Watch
Break above $112K: Could trigger a rapid move toward new highs.

Pullback to $100–105K: Might shake out weaker hands.

ETF and institutional flows: Continued accumulation is a key bullish signal.

Bitcoin is at a pivotal moment, with both sentiment and technicals supporting a possible breakout. Will it finally smash through its all-time high, or are we due for a correction first? Drop your thoughts below!