Bitcoin price surge to $109,000 indicates potential for new all-time highs this week

From Cointelegraph

July 3, 2025 12:20 AM:

Bitcoin surged above $109,000 as global money supply hit new highs. BTC open interest rose 10% with stable funding rate and strong Coinbase Premium, pointing to spot demand. Technical indicators suggest a major breakout, with analysts eyeing $137,000 price. If daily candle closes above $108,500, bullish pattern confirmed.

Bitcoin’s price jump to $109,500 saw a 10% rise in open interest, signaling renewed momentum. Long positions drove the increase, indicating confidence in further upside. Despite the uptick, funding rates remained stable, suggesting a balanced sentiment. $196 million in short positions liquidated, fueling Bitcoin’s climb past key resistance levels.

Analysts predict a new BTC all-time high is near as Bitcoin breaks out of sideways range. Record weekly close above $109,300 could unlock price discovery. Lowest volatility levels since 2023 suggest a major move imminent. Bullish MACD crossover on daily chart indicates potential push towards $137,000 region.

Read more at Cointelegraph: Bitcoin Metrics Suggest New Highs Happen This Week