Bitcoin Shifts Upwards as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon?

Bitcoin (BTC) fell to $105,404 level yesterday as indecisiveness loomed in the market. However, the pioneer crypto reclaimed $108,000 level before closure of the day. This impressive price resilience has since opened the door for new enthusiasm. Today, Bitcoin has moved out of the consolidation phase, climbing above the psychological $110,000 resistance

Furthermore, an analysis by a CryptoQuant analyst confirms that the trend for BTC has shifted upwards. Subsequently, selling pressure has declined conveying that Bitcoin could hit a new all-time high soon

Bitcoin’s Direction Shifts Upwards; Per CryptoQuant

In a post on X on June 3, a CryptoQuant analysis shows that the trajectory for Bitcoin has shifted upwards. Previously, Bitcoin had dropped to $74,000 level in early April after which the price climbed past key resistance levels. But after hitting a new all-time high around $111,920 in late May, the momentum slowed down in June

BTC has been in a range-bound zone between $105,000 and $108,000 since June 24, 2025. However, the recent price action shows that the king crypto is eyeing higher price levels and continuation of the bullish trend

Bitcoin’s Direction Shifts Upward | Source: CryptoQuant AnalysisAs per the chart above, crypto analyst ‘Crypto Dan’ confirms that “looking at Bitcoin’s movements from last April to the present, it appears that the market direction has shifted upward.”

Additionally, the CryptoQuant data shows that Bitcoin’s selling pressure by U.S whales and institutions has declined gradually. The red arrow on the chart above confirms this as it shows an increase in buying pressure. However, at the moment, the buying pressure has maintained as shown by the yellow box

Based on these metrics, sustained institutional buying and whale accumulation could set Bitcoin for a significant upward price movement. According to Crypto Dan, while there is a possibility for correction, the general trend is upwards

“While the possibility of a correction remains, the broader market direction continues to be upward. So I will maintain my perspective and look forward to the second half of 2025,” he remarked

Bitcoin Climbs to $110,000 and Aims at Further Gains

Bitcoin (BTC) has eventually managed to clear key resistance levels on its way above the $110,000 level. As per the daily chart on TradingView, Bitcoin is currently trading at $110,225 as of this writing. The coin has surged over 2% on the day and aims for further gains if $110,000 levels becomes a strong support

Bitcoin Price | Source: TradingViewIf the upward momentum continues, Bitcoin could make yet another attempt to clear the existing new all-time high at $111,920 and achieve a new ATH. Hence, at the moment, the existing ATH is serving as a strong resistance for further upside price movement

However, if Bitcoin fails to clear this resistance, a bounce to the downside could occur. Bitcoin currently has support at $108,043 level. If this level is breached, a drop towards the next support at $105,458 could. Any drop below this level would invalidate the bullish momentum.

In the meantime, Bitcoin is generally bullish as we enter the second half of the year. As reported by Blockchain News earlier, Standard Chartered made a bold Bitcoin prediction that it could hit $135K by Q3 and $200K by the end of 2025