Bitcoin hit a new all-time high of $112k after adding 3% to its value on Wednesday.
The coin could rally towards $115k-$120k if macro conditions remain favorable and price action holds.
Bitcoin hits a new all-time high
Bitcoin, the leading cryptocurrency by market cap, surged to a new all-time high price on Wednesday after adding 3% to its value. The new Bitcoin all-time high now stands at $112,128 as analysts predict the coin to hit between $115k and $120k over the coming weeks or months.
The positive performance comes amid growing institutional demand. Recent reports reveal that spot Bitcoin ETFs now have nearly $150 billion in assets under management (AUM).
Furthermore, an increasing number of companies are adding Bitcoin to their balance sheets. Strategy, Metaplanet, and GameStop are the biggest corporate Bitcoin adopters, but more companies are now implementing Bitcoin treasuries.
BTC could surge to $115k
The BTC/USD 4H chart is bullish but inefficient after Bitcoin rallied to a new all-time high. This means that Bitcoin could temporarily dip to the $109,700 level to grab liquidity before rallying higher.
The Relative Strength Index (RSI) of 65 shows that Bitcoin is currently in a buying spree, but investors could push it higher. Furthermore, the MACD lines are in the positive zone, suggesting a bullish bias.
If Bitcoin rallies higher and $112K becomes support, the rally could extend toward $116K–$120K. Supporting confluences for this rally include a clean break of all-time high, continued accumulation by institutions, lack of major resistance until $115k psychological level, and the 4-Hour Fair Value Gap ($109,800-$110,800) remaining intact.
However, if the rally stalls at the all-time high levels, we may see a correction. The failed breakout above $112,000 with no sustained momentum could see BTC dip lower. If that happens, the 4H FVG around $109k would not provide any major support, and BTC could drop to the $108k level.
Exchange net flows remain negative, pointing to continued accumulation.
Golden Crossover signal is forming between the 50 and 200-day EMAs.
Elder Ray’s Index flips positive, suggesting buyer control.
BONK, the meme coin built on the Solana blockchain, has jumped nearly 60% over the past seven days, driven largely by market sentiment and speculation surrounding potential ETF-related demand.
With BONK breaking out of a long-term technical pattern and momentum indicators flipping bullish, traders are now watching closely to see whether the rally can push past a key resistance level at $0.00002840.
A potential Golden Crossover between two important moving averages is also forming on the daily chart, raising hopes of a sustained breakout if the signal is confirmed.
However, BONK is now trading at $0.00002128, down 5.95% in the last 24 hours.
BONK has officially broken out of a falling wedge pattern that has been forming over the last year on the daily timeframe.
The breakout was confirmed when the price surged past $0.00001550, a key level that had previously held the coin in a downward compression between lower highs and flat support.
Currently, BONK is consolidating near $0.00002203. Immediate resistance sits at $0.00002389, with another critical zone between $0.00002577 and $0.00002840.
The absence of strong resistance between $0.00002840 and $0.00003670 makes this zone a potential price vacuum should buyers break above current ceilings.
However, traders remain cautious. A reversal below $0.00001806 could indicate a loss of breakout momentum, while a drop under $0.00001435 would nullify the wedge breakout entirely and bring the previous bearish structure back into focus.
BONK ETF speculation fuels investor interest
Speculation around BONK’s potential inclusion in future crypto ETF portfolios has contributed significantly to the recent price surge.
While no official confirmation has emerged, BONK has re-entered the conversation as institutional interest grows around meme coins and altcoins with high liquidity and community traction.
Social media discussions have been instrumental in amplifying the narrative, with investors pointing to BONK’s strong fundamentals on-chain.
The meme coin’s trading volume has increased in tandem with positive netflows, reflecting growing demand across centralised and decentralised exchanges.
Exchange outflows support bullish supply trend
Data from Arkham shows a prolonged period of negative netflows for BONK over the last year.
This suggests that more tokens are being withdrawn from exchanges than deposited, a typical sign of accumulation.
While the trend has moderated in the last 30 days, it remains negative, indicating neutral-to-bullish positioning.
The reduced exchange supply could play a major role in sustaining upward pressure, particularly if new demand continues to arrive on the back of speculative interest or positive technical developments.
The supply squeeze narrative has gained traction on platforms like X, where some users argue BONK may be gearing up for a sharp move once resistance levels are cleared.
Technical indicators turn bullish for BONK
One of the more significant developments on the BONK chart is the near-confirmation of a Golden Crossover.
This occurs when the 50-day Exponential Moving Average (EMA) crosses above the 200-day EMA, typically considered a bullish signal in technical analysis.
The Elder Ray Index, which measures bull and bear power by comparing price against a moving average, has also flipped into positive territory.
This suggests buyer strength is currently dominant over selling pressure, supporting the idea that bulls have regained control.
At the time of writing, BONK’s structure supports continuation if it can break above $0.00002577 and hold the gains.
Any rally past $0.00002840 would likely open the path to $0.00003670, as the price moves into a zone with few historical resistance points.
However, failure to maintain support above $0.00001806 could signal weakening momentum.
If BONK slides below $0.00001435, it may re-enter the bearish wedge structure it recently broke out from.
LINK is up 4% in the last 24 hours and now trades at $14.
The coin can rally towards $17 soon, following weeks of accumulation around the $13 region.
The cryptocurrency market has resumed its upward rally following a poor start to the week. Bitcoin is trading above $109k once again, while Ether has crossed the $2,600 resistance level.
Chainlink’s LINK is one of the top performers among the leading 20 cryptocurrencies by market cap and looks set to rally higher in the near term.
LINK looks set to break out from its accumulation zone
LINK, the native coin of the Chainlink ecosystem, has been accumulating over the past few weeks. The accumulation comes despite Chainlink’s recent partnership with Mastercard and other protocols integrating its various products.
The coin has been trading between $12 and $14 over the last few weeks. However, the long period of accumulation could suggest a breakout soon, with many analysts expecting it to hit the $17 mark soon.
LINK eyes $17 as bulls push harder
The LINK/USD 4-hour chart is bullish and efficient thanks to its ongoing rally. The pair is also efficient after LINK swept liquidity around $12.8 over the weekend, suggesting that the bulls are preparing for another leg up.
The Relative Strength Index (RSI) of 64 indicates buying pressure for LINK, while the MACD lines in the positive zone also show that the bulls are in control.
If the rally continues, LINK could test the first major resistance level at $15.7 in the coming hours or days. An extended bullish period would allow LINK to trade around the $17.9 resistance level for the first time since May.
However, LINK would need the help of the broader crypto market if it intends to break above the January high of $26.
The TLQ at $12.6 provides very strong support for LINK, and the bulls would likely defend this level if the market turns bearish. Failure to defend the $12.6 support level could see LINK retest the June low of $10.9.
Altcoins have performed excellently over the last 24 hours, with Ether, XRP, and Aave leading the way.
Cronos’s CRO token is the best performer in the top 50, up 18% and eyeing the $0.1099 resistance level
Cronos rallies on Truth Social’s Crypto Blue-Chip ETF
Altcoins have had a positive 24 hours, with Ether, Solana, XRP, and Cardano all adding 3% to their values. Aave and Cronos (CRO) are other coins that have performed excellently, backed by strong fundamentals.
CRO, the native coin of the Cronos blockchain, is the best performer among the top 50 cryptocurrencies by market cap. The coin added 18% to its value in the last 24 hours to hit a high of $0.1000 before retracing to now trade at $0.0970.
The rally was fueled by reports that confirm that CRO will be part of the Crypto Blue-Chip ETF that Truth Social filed with the SEC. The fund was proposed by Truth Social in partnership with Trump Media & Technology Group.
The ETF is set to bring together top cryptocurrencies into a single financial product to be listed on NYSE Arca. Its distribution was set at 70% for Bitcoin, 15% for Ethereum, 8% for Solana, 5% for Cronos, and 2% for XRP. This announcement sparked a rally for CRO.
CRO is the native coin of Cronos, the blockchain created by cryptocurrency exchange Crypto.com.
CRO eyes the $0.1099 resistance level amid bullish indicators
The CRO/USD 4-hour chart is bullish and efficient, indicating that traders have swept liquidity to the downside and are ready for another leg up. The technical indicators are bullish, suggesting that CRO could rally higher.
The RSI of 77 shows that CRO is currently heading into the overbought region after adding 18% to its value in the last 24 hours. The red and blue MACD lines have also crossed into the positive zone, suggesting buying pressure.
With the bulls still in control, CRO could rally to the next resistance level at $0.1099 over the coming hours or days. It has already established a weak support level at $0.0919 after gaining efficiency a few hours ago.
If the rally continues, CRO could test the next major resistance level at $0.1202, its highest level since March.
However, if the bears regain control, CRO could lose its recent gains and test the $0.0793 support level. The TLQ at $0.0691 should provide strong support in case the bearish trend lingers on.
Valhalla launched with a BANG on opBNB mainnet on June 30th and has just passed the 100K minted Veras milestone. To celebrate, we’re giving away $10,000 in prizes to the earliest players.
These steps are crucial in attracting and retaining participants.
Meanwhile, analysts watch FLOKI’s price charts amidst the optimism.
A potential upside reversal pattern is emerging on the weekly timeframe after extended downtrends.
A confirmation could trigger explosive moves and propel the meme token’s price to the key resistance at $0.00019082.
That would mean an approximately 124% gain from Floki Inu’s current market price of $0.00008452.
Let’s check how FLOKI could attain such a remarkable rally as its ecosystem gains strength amid Valhalla hype.
Floki Inu ushers in utility with Valhalla
Valhalla was among the most-awaited upgrades by the meme token community.
It is beyond a game, representing a key foundation of Floki Inu’s long-term mission to transform into a utility-driven project.
That matches the broader trend, where market participants are opting for crypto ecosystems with real-world utility.
Valhalla gamers gather and battle with Veras, upgrade in-game assets and finally interact with other players.
It leverages opBNB to guarantee smooth gameplay and low fees.
That reduces entry barriers for new participants often turned off by expensive gas charges.
That positions the dog-themed crypto project to grab mainstream attention, which will likely fuel long-term growth.
The Floki Inu team has been consistent in delivering tangible value through launches like Valhalla, and the explosive activity surge shows the plan could be working.
FLOKI price outlook: massive rally impending?
Besides web3 gaming, Valhalla’s impressive growth has renewed sentiments around the native FLOKI.
The meme coin shows signs of life after prolonged dips.
It trades at $0.00008452 after gaining nearly 20% in the past week.
Source – Coinmarketcap
The bullish momentum follows the latest rebound from the support zone at $0.00003996.
Floki Inu used this foothold to support massive rallies in late 2023, and that could be materializing.
Continued Valhalla success and broad market surge could confirm a bullish reversal emerging on FLOKI’s weekly chart.
That might trigger explosive gains toward the first crucial resistance zone at $0.00019082.
That would mean an approximately 124% increase from the alt’s current price.
The next resistance is at $0.00023966, beyond which FLOKI could witness a full recovery to $0.00029775.
However, breaching $0.00003996 may cancel the bullish formation, catalyzing notable dips or sideways actions.
