Bitcoin (BTC) is trading within a narrow range but is drawing significant attention from traders and analysts, with signs pointing to a potential liquidity-driven move up to $111,000. The current price movement follows a rebound from recent lows, underpinned by a temporary Middle East ceasefire and growing volatility around upcoming macroeconomic events.
BTC Consolidates Above $105K After Relief Rally
Bitcoin continues to hold steady above the $105,000 level following a sharp bounce from multi-week lows. This rally was partially fuelled by geopolitical relief and is now transitioning into a consolidation phase. Market observers note that the consolidation is encouraging liquidity buildup on both sides of the order book — a common precursor to a sudden “liquidity grab” move, which aims to clear out stop-losses and leveraged positions.
According to data from exchange analytics platform CoinGlass, BTC price action is setting the stage for a breakout. Analysts warn that with liquidity clustering near key levels, a swift price movement could soon materialise.
Traders Target $111K as Liquidity Builds
Market participants are increasingly eyeing a move towards $111,000, with liquidity data showing fresh inflows near this level. Popular trader Jelle commented that the upside liquidity near all-time highs has become more significant than the downside pressure, making a surge toward $111K more probable.
BTC/USD monthly returns (screenshot). Source: CoinGlass
Echoing similar sentiments, another well-followed trader, Mark Cullen, told his X (formerly Twitter) followers on June 25 that Bitcoin might briefly push into the $107,000 range before a short-term dip to gather liquidity from lower support zones around $104,000. “I wouldn’t be surprised to see $BTC push a little higher into the 107K’s before pulling back and taking the liquidity below 105-104K with a quick wick,” Cullen noted.
The CoinGlass data Cullen referred to highlighted how market liquidity is becoming denser around $108,000–$111,000 — levels that might act as magnets for price movement if a liquidity sweep takes place.
$103K Seen as Crucial Support in Case of Downside Grab
Not all traders are convinced that the next move will be upwards. Trader Skew has identified $103,000 as a pivotal support level, especially if the market initiates a downside liquidity grab. He described the current environment as “pretty neutral” in terms of positioning, noting that both long and short positions are being opened simultaneously.
“The more liquidity that gets attracted here = greater the reaction,” Skew explained. In essence, the increasing buildup of liquidity — whether to the upside or downside — could lead to a sharper price swing once triggered.
Monthly Close Could Confirm BTC Bullish Breakout
Adding to the significance of this price range is the upcoming monthly close. Bitcoin has gained approximately 1.7% in June, and the monthly candle close, due on June 30, is drawing attention as a possible confirmation of a longer-term bullish breakout.
Analyst Rekt Capital pointed out that a monthly close above $102,400 would validate the breakout from Bitcoin’s long-standing range. “A Monthly Close above ~$102400 (blue) would confirm the Monthly Range breakout,” he stated on X, sharing a chart that outlines the critical resistance and support levels.
Fed’s Inflation Data Release May Influence Next Move
The timing of this potential breakout also coincides with key macroeconomic data releases. On June 27, the Federal Reserve’s preferred inflation metric — the Personal Consumption Expenditures (PCE) index — will be published. Markets are already anticipating this report, as signs have emerged suggesting that the Fed might consider interest rate cuts in the near future.
BTC/USD 1-month chart. Source: Rekt Capital/X
Volatility typically spikes around major macroeconomic events, and the PCE data could either reinforce or negate the momentum Bitcoin has built over the past few weeks. Analysts believe this external factor could play a decisive role in determining whether BTC breaks above $108,000 and attempts to reach the long-eyed $111,000 mark.
Conclusion
Bitcoin is currently at a critical juncture, trading between key liquidity levels and showing signs of an imminent breakout. With $111K identified as a potential near-term target and $103K as a major support in case of a pullback, the next few days could bring high volatility. Much hinges on the upcoming monthly close and macroeconomic triggers such as the Fed’s inflation data, which could provide the push needed for Bitcoin to resume its climb, or correct sharply.
