Bitcoin (BTC) is experiencing a notable surge, climbing over 3% to breach $105,000 on June 24. This rally follows a wave of positive macroeconomic and technical developments that have reignited investor confidence across the digital asset landscape. With momentum building from geopolitical de-escalation, sustained institutional inflows, and a powerful technical pattern taking shape, Bitcoin appears poised for further upside. Let’s explore the key forces behind today’s price movement and what they could mean for the near-term trajectory of the leading cryptocurrency.
Geopolitical Calm Fuels Risk-On Sentiment
A major catalyst behind Bitcoin’s rally on June 24 was the announcement of a ceasefire between Israel and Iran, facilitated by U.S. diplomatic efforts. This development has significantly reduced geopolitical tensions that had unsettled global financial markets in recent days.
Prior to the ceasefire, a brief but intense 12-day conflict involving targeted strikes on nuclear facilities, military bases in the Middle East, and retaliatory actions disrupted market stability. Fears of prolonged hostilities and potential supply chain disruptions—particularly through the Strait of Hormuz—had driven investors toward safe-haven assets and temporarily pushed Bitcoin below the $100,000 mark.
👉 Discover how global events influence crypto markets and where Bitcoin might go next.
With the ceasefire agreement in place, risk appetite has returned with vigor. Investors are rotating back into higher-risk, high-growth assets, with Bitcoin leading the charge. The cryptocurrency quickly rebounded, reaching an intraday high of $106,100 on June 23 before consolidating above $105,000. This recovery reflects Bitcoin’s growing role as a barometer of global investor sentiment—responding not just to monetary policy, but also to macro-level geopolitical shifts.
Institutional Demand Strengthens as ETF Inflows Continue
Another powerful driver of today’s price surge is the sustained capital inflow into U.S. spot Bitcoin exchange-traded funds (ETFs). These regulated investment vehicles have become a primary gateway for institutional and retail investors seeking exposure to Bitcoin without direct custody.
Data from Farside Investors shows that spot Bitcoin ETFs have attracted capital for 10 consecutive days, bringing total net inflows since their January 11, 2024 debut to $49.9 billion**. On June 24 alone, approximately **$350.6 million flowed into these products.
CoinShares further reports that $1.24 billion** entered crypto investment products last week, marking the **tenth straight week of inflows**. Of this total, **$1.1 billion was allocated to Bitcoin-specific investment vehicles—underscoring BTC’s dominance in institutional crypto portfolios.
Corporate treasuries are also doubling down. Strategy (formerly MicroStrategy) added 245 BTC (~$26 million) to its holdings last week. Meanwhile, Japan’s Metaplanet made headlines by acquiring an additional **1,111 BTC** for ~$118 million on June 23. As of that date, Metaplanet’s total Bitcoin holdings reached 11,111 BTC, purchased at an average price of ~$95,869 per coin.
This growing institutional adoption signals long-term confidence in Bitcoin as a strategic reserve asset. As more corporations and funds allocate capital to BTC through regulated channels, the market benefits from enhanced liquidity, reduced volatility, and stronger price support.
👉 See how institutional investors are shaping the future of Bitcoin adoption.
Technical Outlook: Cup-and-Handle Pattern Targets $144,000
Beyond fundamentals, Bitcoin’s chart structure reveals a compelling technical setup that could propel prices toward new all-time highs.
Since January 20, BTC/USD has been forming a cup-and-handle pattern on the daily timeframe—a classic bullish continuation pattern often seen before major breakout moves. The "cup" phase was completed in early May, followed by a consolidation phase forming the "handle" between $98,000 and $105,000.
Currently, price is testing the upper boundary of the handle near $105,000, which also aligns with the 50-day simple moving average (SMA). A decisive close above this level could flip it into support and trigger the next leg upward.
The immediate resistance lies at the pattern’s neckline of $109,000**. A daily candlestick close above this level would confirm the breakout and open the path toward **$112,000—Bitcoin’s previous all-time high set on May 23.
More significantly, the measured move target of this cup-and-handle formation points to $144,000, representing a 37% upside from current levels. This target is derived by calculating the depth of the cup and projecting it upward from the breakout point.
Supporting this bullish thesis:
- The Relative Strength Index (RSI) sits at 69—elevated but not yet in overbought territory.
- A "bullish cross" has formed between short- and long-term SMAs, indicating strengthening upward momentum.
- Volume patterns suggest accumulation during the handle formation, reducing selling pressure ahead of a potential breakout.
Market analysts suggest that if $105,000 holds as support following today’s rally, a move toward new highs could unfold as early as this week.
Frequently Asked Questions
Q: What caused Bitcoin to rise above $105,000 on June 24?
A: The price surge was driven by a combination of geopolitical de-escalation between Israel and Iran, renewed risk appetite in global markets, and strong capital inflows into spot Bitcoin ETFs.
Q: Are institutional investors still buying Bitcoin?
A: Yes. Institutional demand remains robust, with over $1.24 billion flowing into crypto investment products last week—$1.1 billion of which went to Bitcoin-focused funds. Major firms like Strategy and Metaplanet continue expanding their BTC holdings.
Q: What is the cup-and-handle pattern in Bitcoin’s chart?
A: It’s a bullish technical formation that suggests a potential breakout after a consolidation phase. Bitcoin’s current setup could lead to a rally targeting $144,000 if key resistance levels are breached.
Q: How do spot Bitcoin ETFs affect BTC’s price?
A: These ETFs increase regulated demand for Bitcoin, bringing in institutional capital and improving market liquidity. Sustained inflows signal confidence and provide strong price support.
Q: Could Bitcoin reach $144,000 soon?
A: While not guaranteed, the technical setup supports this possibility. A confirmed breakout above $109,000 could accelerate momentum toward $144,000 over the coming months.
Q: Is now a good time to invest in Bitcoin?
A: Every investment carries risk. While current trends are positive, investors should conduct their own research and consider their risk tolerance before making decisions.
Core Keywords
Bitcoin price today, Bitcoin ETF inflows, institutional Bitcoin adoption, cup-and-handle pattern BTC, Bitcoin technical analysis 2025, Bitcoin price prediction $144k
👉 Stay ahead of the curve with real-time insights on Bitcoin’s next major move.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.