Bitcoin has been traversing a difficult environment over the last several days, with growing global tensions fueling market concern. Israel launched a military assault against Iran at early on Friday, sparking rapid retaliation that has kept global financial markets on edge ever since. The violence, along with broader macroeconomic uncertainty, has increased volatility and halted positive momentum in key risk assets.
Considering the pressure, Bitcoin has remained robust. After briefly reaching the $112,000 all-time high last week, Bitcoin has since retraced but remains above a critical support zone. According to a new technical study released by prominent analyst Jelle, Bitcoin’s prior all-time high is still acting as support, providing a crucial psychological and structural anchor for bulls. Maintaining this price zone is crucial for preserving the overall upswing structure and maybe preparing for another effort at price discovery.
Investors are increasingly focusing on macroeconomic factors such as oil prices, bond rates, and central bank policy expectations, which continue to affect liquidity flows across markets. For Bitcoin, maintaining current levels may provide the groundwork for a larger advance if external pressures subside and market circumstances settle.
Bitcoin consolidates around highs against global and macroeconomic headwinds
Bitcoin has entered a stabilization period after a strong rally from $74,000 to an all-time high of $112,000. This rapid advance, which occurred over a few weeks, has now stalled as traders and institutional investors examine the rising complexity of the macroeconomic landscape. From rising US Treasury rates and sticky inflation to mounting geopolitical tensions—most notably the Israel-Iran conflict—the current environment poses substantial challenges for risk assets such as Bitcoin.
Despite this turmoil, Bitcoin has demonstrated considerable strength by remaining above important support levels. According to Jelle, Bitcoin’s recent all-time high is still operating as solid support, perhaps serving as a launchpad for future gains. Jelle observed that BTC ended the previous daily candle solidly, despite the fact that global markets were jolted by new waves of uncertainty. His conclusion was straightforward: “Bitcoin wants higher.”
Previous all-time high still holding as support.
— Jelle (@CryptoJelleNL) June 14, 2025
Solid daily close yesterday despite more global turmoil.#Bitcoin wants higher. pic.twitter.com/PrMUWfuK4E
While the short-term outlook is clouded by caution, many people remain enthusiastic about Bitcoin’s further moves. Some analysts predict that BTC may break above its $112K high in the coming weeks, particularly if macroeconomic factors, such as lower rates or diplomatic progress in the Middle East, provide respite to investors.
The coming weeks will be key. A clean break above the ATH might spark a fresh round of price discovery, whilst a failure to hold present support could result in further pullbacks. For now, consolidation over $100K maintains the bullish structure.
BTC Market Analysis: Weekly Structure Indicates Strength
Bitcoin’s weekly chart shows a period of stabilization just below the $112,000 all-time high, following a rapid surge from below $75,000. After repeated attempts of the $109,300 resistance zone, BTC has maintained its position above the previous ATH range, with current support around $103,600 holding fast for now. This conduct indicates that bulls are still in power, despite recent geopolitical and macroeconomic hardship.
The Bollinger Bands tend to tighten following a period of expansion, which is generally an indication of impending volatility. The price movement stays safely above the bands’ midline as well as all important moving averages (50, 100, and 200-week SMA), indicating that bullish momentum will continue in the medium term.
What jumps out is Bitcoin’s resiliency in the face of global challenges. Despite increasing volatility owing to the Israel-Iran conflict and persistent US inflation worries, Bitcoin’s weekly closes remain positive. As long as BTC maintains higher lows and defends the $103,600-$105,000 support zone, the route to price discovery remains open.
A clean weekly closing over $109,300 would be a strong bullish trigger, perhaps aiming for the $120K-$125K range in the short term. Until then, consolidation within this range is the prevailing structure.
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