Bitcoin’s first $109K weekly close stirs breakout talk – Here’s what happens now!

• Institutional buyers are once again leaning toward Bitcoin, driving renewed confidence across key support zones.
• Bitcoin closed above $109K for the first time, but resistance still caps further upside.

On the 6th of July, Bitcoin [BTC] locked in its first-ever weekly close above $109K—officially crossing a key resistance.

Source: TradingView

BTC ended the week at $109,216, surpassing the previous high of $109,004, which triggered a shift in market sentiment.

Sellers flipped to buyers, confidence returned, but confirmation of a sustained breakout still hangs in the balance.

Bitcoin technical breakdown

This resistance level hasn’t gone quietly. It’s pushed Bitcoin down three times on previous breakout attempts.

Source: TradingView

BTC looks ready to dip toward $107,320, the nearest mid-range support. If that holds, the bulls may regain momentum and aim for the $110,000 zone.

Bitcoin first needs to reclaim this level with volume before any ATH retest looks valid.

If this support level fails to hold, the next likely drop could be toward $104,984—the next significant support zone.

$107K holds the liquidity trap

An analysis of the Bitcoin Liquidation Heatmap on Binance on the 7th of July revealed that BTC is likely to drop to the $107,000 region, as previously noted.

Source: CoinGlass

This drop is likely because, between Bitcoin’s price on the 7th of July and $110,000, there is almost no liquidation leverage, as marked in red.

However, between the current price and the $107,000 region, notable liquidity clusters exist. In fact, at precisely $107,731.15, total liquidation leverage stands at $85 million.

FUD dies, long-term outlook strengthens

FUD among macro investors is beginning to fade, and the long-term outlook has regained dominance.

On the 7th of July, Binary Coin Days Destroyed (CDD)—an indicator of long-term investor activity—on CryptoQuant showed a significant drop, suggesting that major players have resumed holding their assets rather than selling.

Source: CryptoQuant

This signaled that long-term investors, who typically control large volumes of BTC, have halted their selling, adding further confirmation that the likelihood of a significant drop is low. It adds confidence to the ongoing rally.

Also, another move aligned with post-FUD accumulation behavior.

According to CoinGlass data on Bitcoin Spot ETF Net Inflow, institutional investors dumped BTC once since the 9th of June – that is, on the 1st of July.

But that sale was short-lived.

Within days, institutions bought back over $1 billion in BTC, further solidifying the long-term bullish tilt.

Profit-taking fizzles out

CryptoQuant’s Net Realized Profit and Loss dropped significantly since the 4th of July. After peaking at $9.08 billion in total Realized Profit, it declined sharply, with the Realized Profit sitting at just $315 million on the 7th of July.

Source: CryptoQuant

More notably, Exchange Depositing Addresses also fell to just 22,000, a low not seen since 2016.

That’s a strong signal: Bitcoin first strategies are dominating again, with investors preferring cold wallets over quick exits.

In fact, AMBCrypto previously reported that whales have resumed accumulation after a year-long hiatus. The broader market euphoria to sell has diminished.

Whales holding between 10,000 and 100,000 BTC re-entered the market in March and July. During this time, BTC achieved high profitability, yet whale behavior remained patient. They didn’t sell—they accumulated.