Bitcoin is once again showing strength after a volatile week, reclaiming levels above $117,900 and sparking optimism among traders and analysts alike.
Despite recent liquidity sweeps and rejection zones, the leading cryptocurrency has managed to bounce back, with a 1.5% gain over the last 24 hours, according to the latest market data.
Renowned crypto analyst Michaël van de Poppe shared his positive outlook on X, highlighting Bitcoin’s resilience. He noted that BTC took a hit after a liquidity grab but continues to climb back up, suggesting the broader market still holds bullish potential. In a chart he posted, van de Poppe marked $120,300 as a critical level for BTC to break in order to test a new all-time high.
Meanwhile, altcoins may also be poised for a breakout. Van de Poppe pointed out that several alternative assets are showing strength alongside Bitcoin, indicating a broader setup for a potential rally across the crypto sector.
At the time of writing, Bitcoin is trading at $117,960.12 with a market cap of over $2.34 trillion. The 24-hour volume stands at a solid $64.1 billion, underscoring renewed interest from both retail and institutional participants. Although BTC has dipped 0.26% over the past week, its recent rebound is seen as a strong sign of recovery heading into the final stretch of July.
The chart analysis shared by van de Poppe shows a strong support zone around $115,100, with $110K–$112K cited as a “brilliant area to accumulate” if BTC dips again. Still, the main focus remains on breaching the $120K mark to initiate a fresh upward leg.
With momentum building and key resistance levels in sight, traders are watching closely for confirmation of a broader breakout. If Bitcoin can hold above $117K and push higher, the stage may be set for another strong move before Q3 ends.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/crypto-markets-gear-up-as-bitcoin-defies-the-downtrend/