Bitcoin price hit new highs today, but surging US debt and concerning housing data raise fears of a recession-led Bitcoin drop toward $95,000.

US debt rises to $36.6T: Will recession signals send Bitcoin back to $95K?

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Bitcoin price started a fresh increase above the $108,500 zone. BTC is now up 
over 3% and showing positive signs above the $110,000 level. Bitcoin started a 
fresh increase above the $108,500 zone. The price is trading above $110,500 
and the 100 hourly Simple moving average. There was a break above a bearish 
trend line with resistance at $108,800 on the hourly chart of the BTC/USD pair 
(data feed from Kraken). The pair could continue to rise if it clears the 
$112,000 resistance zone. Bitcoin Price Eyes More Gains Bitcoin price started 
a fresh increase after it cleared the $108,500 resistance zone. BTC gained 
pace for a move above the $108,800 and $109,500 resistance. Besides, there was 
a break above a bearish trend line with resistance at $108,800 on the hourly 
chart of the BTC/USD pair. The bulls even pumped the pair above the $110,000 
resistance zone. It opened the doors for a move toward the $112,000 level. A 
high was formed at $112,000 and the price is now consolidating gains. It 
tested the 23.6% Fib retracement level of the upward move from the $107,500 
swing low to the $112,000 high. Bitcoin is now trading above $109,500 and the 
100 hourly Simple moving average. Immediate resistance on the upside is near 
the $111,600 level. The first key resistance is near the $112,000 level. The 
next resistance could be $112,500. A close above the $112,500 resistance might 
send the price further higher. In the stated case, the price could rise and 
test the $115,000 resistance level. Any more gains might send the price toward 
the $116,000 level. The main target could be $118,000. Downside Correction In 
BTC? If Bitcoin fails to rise above the $112,000 resistance zone, it could 
start a downside correction. Immediate support is near the $110,800 level. The 
first major support is near the $109,750 level or the 50% Fib retracement 
level of the upward move from the $107,500 swing low to the $112,000 high. The 
next support is now near the $109,200 zone. Any more losses might send the 
price toward the $108,500 support in the near term. The main support sits at 
$107,500, below which BTC might continue to move down. Technical indicators: 
Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI 
(Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. 
Major Support Levels – $110,800, followed by $109,750. Major Resistance Levels 
– $112,000 and $115,000.

Bitcoin Breakout Alert — Price Turns Green as Bulls Step In

Bitcoin continues to consolidate just below its all-time high of $112K, 
holding firmly above key support at $105K despite repeated bearish attempts to 
push the price lower. This tight trading range reflects market uncertainty, 
yet the structure favors bulls as long as support levels remain intact. 
Related Reading: Ethereum Turns Key Resistance Into Support – Momentum Builds 
For Range Breakout Meanwhile, macroeconomic conditions are evolving rapidly. 
The US Congress recently passed President Donald Trump’s “big, beautiful” 
economic package ahead of the self-imposed July 4 deadline, signaling a new 
phase of fiscal stimulus marked by tax cuts and aggressive spending. Combined 
with strong job reports, these factors suggest inflation may soon accelerate — 
a trend that historically supports Bitcoin as a hedge against fiat 
devaluation. On the market sentiment side, funding rates provide a crucial 
clue. According to top analyst On-Chain Mind, the 30-day average of Bitcoin 
perpetual funding rates is currently very low. This reflects a lack of 
excessive greed and typically marks a favorable setup for bullish 
continuation. Historically, periods of low funding rates have preceded major 
upward moves, especially when paired with strong macro tailwinds. With 
economic pressure building and Bitcoin still in a bullish structure, the 
coming days could define the next major move for the world’s largest 
cryptocurrency. Calm Before The Breakout: Bitcoin Gains Strength Above $107K 
Bitcoin is up more than 3% since the start of July, holding firmly above the 
$107,000 local low despite repeated resistance at the $110,000 level. This 
sustained strength signals underlying buyer support and growing momentum as 
BTC continues to consolidate just below all-time highs. The $110K resistance 
remains a critical ceiling — once breached, analysts expect a strong move into 
price discovery as bullish momentum builds. So far, the market has digested a 
wave of macroeconomic and geopolitical developments. Global trade dynamics — 
including rising tariffs, export restrictions, and deglobalization trends — 
continue to shape sentiment. Yet, compared to the sharp volatility seen 
earlier this year, both Bitcoin and US equities appear more resilient. This 
suggests that much of the uncertainty has already been priced in, reducing the 
downside risk for risk assets like BTC. A key technical factor reinforcing the 
bullish case is the low 30-day average of funding rates. This indicator 
reflects a neutral-to-cautiously optimistic market environment — a stark 
contrast to overheated bullish phases that often precede corrections. Calm 
periods like this often set the stage for explosive moves, particularly when 
supply squeezes and strong demand meet a macro environment ripe for risk- 
taking. With BTC coiling tightly and sentiment balanced, a breakout could be 
imminent. Related Reading: ERC-20 Stablecoin Supply Hits All-Time High At 
$121B – Liquidity On The Rise BTC Holds Steady as Bulls Eye $109,300 Breakout 
The 4-hour chart shows Bitcoin (BTC) consolidating within a tight range, 
holding above the key support at $107,000 and testing resistance around 
$109,300. This price level has consistently acted as a local ceiling, with 
several failed breakout attempts in late June and early July. However, the 
bulls continue to defend higher lows, signaling strength and setting the stage 
for a potential breakout. The 50, 100, and 200 simple moving averages (SMAs) 
are stacked close together and gradually trending upward, suggesting the 
consolidation phase could soon transition into a more directional move. Volume 
remains low, which often precedes a volatility spike, especially near key 
resistance levels. Related Reading: Ethereum Risks Downside If Resistance 
Holds: $2,700 Level Is Critical The $103,600 support remains the crucial line 
in the sand for bulls. A breakdown below that level would invalidate the 
short-term bullish structure and likely lead to a deeper retrace. On the 
upside, a daily close above $109,300 with volume confirmation could trigger a 
rally toward price discovery above the all-time high. Featured image from 
Dall-E, chart from TradingView

Bitcoin 30-Day Average Funding Rate Drops – Bullish Setup Takes Shape

Bitcoin just entered a new era of legitimacy as Elon Musk signals BTC 
endorsement through his political platform, reinforcing U.S. policy shifts and 
igniting institutional adoption worldwide. Elon Musk’s Bitcoin Endorsement 
Marks Political Milestone, Says Expert Elon Musk’s bitcoin endorsement signals 
a pivotal turn as political forces elevate the asset from speculative trade to 
a […]

Elon Musk Fuels Bitcoin’s Political Rise, Expert Sees Institutional Acceleration

Binance founder Changpeng Zhao’s investment firm is backing the creation of a 
company that will buy and hold BNB with plans to go public in the US.