Bitcoin holds US$107K amid institutional strength

The cryptocurrency market has entered a phase of strategic consolidation, with Bitcoin (BTC) maintaining a stable position above the US$107K mark. Following recent efforts to test record highs, this period reflects healthy re-accumulation.

The market’s resilience highlights its maturity, absorbing macroeconomic fluctuations while benefiting from sustained institutional demand. As traditional finance continues to integrate digital assets, traders are closely monitoring both global economic indicators and sector-specific developments. The past seven days offered key insights into the market’s strength and future potential. 

The weekly trading stats as of Monday, July 7th at 10:00 am AEST, based on data from TradingView in USD.

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Bitcoin’s technical overview

After peaking near US$110K in early June, Bitcoin has entered a phase of quiet recalibration. Over the past week, it has hovered between US$107,000 and US$109,500, closing on Monday at US$109,200.

The US$105,586 level, aligning with the 20-day EMA, has emerged as key support. Traders are also watching the 50-day EMA (US$103,709), while the psychological US$105,000 level adds further reassurance. These zones have historically acted as resistance, and their role as support now signals buyer strength. Resistance is tightening around the US$110K mark. A breakout above these levels, backed by volume, could trigger bullish momentum targeting US$112,000 and US$113,500.

Weekly trading volumes remained steady, reinforcing a view of controlled consolidation rather than distribution. While June’s monthly close showed an all-time monthly high, some shorter-term indecision remains. That said, historical July trends tend to suggest Bitcoin’s performance has proven healthy, with some analysts suggesting 9% growth in July 2025. Naturally, these predictions should be viewed through a cautious lens given the global uncertainty that exists.

Traders should monitor a confirmed breakout above US$110,200 or, conversely, a break below US$103,700 as potential signals for the next leg of market movement.

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Market drivers

This past week, market sentiment continued to absorb macroeconomic cues from the prior week, particularly ongoing analysis of U.S. Federal Reserve signals and inflation data. The broader expectation for rate cuts in late 2025, driven by moderating inflation and a stable U.S. economy, is supporting risk assets, including digital currencies. There are some potential headwinds with the passing of the recent tax and spending bill. The increasing deficit and the long-term addition to the US national debt of more than US$3 trillion over the next 10 years is likely to generate some macro caution. The bond markets are already seeing a tick up in interest rates since the bill was passed into law prior to the Independence Day holiday. This is a trend to watch with caution.

Geopolitical developments also influenced market dynamics. Although tensions in the Middle East caused a brief BTC dip below US$100,000 in early June, the market quickly recovered toward US$108,000 following positive ceasefire discussions. Bitcoin’s ability to bounce back from global events shows how far the market has come. The reaction to Middle East tensions, for example, was sharp but short-lived.

Global tariffs remain unresolved, and July 9th is the target day for resolution, where 90 deals in 90 days are due to crystallise. With very few trade deals yet to be formally agreed, President Trump indicated he will send out letters to smaller trading partners that have not reached an agreement to reinstate the tariffs from April 2nd. This ongoing uncertainty could add to some market caution and volatility.

In traditional markets, strength in indices like the S&P 500 and Nasdaq has supported continued growth, pushing through the all-time highs, creating a ‘risk-on’ environment, to which crypto appears to be increasingly aligning.

In Australia, all eyes are on the upcoming Reserve Bank of Australia (RBA) interest rate decision on Tuesday, July 8th. While not expected to move rates, the RBA’s commentary on inflation and growth will help shape investor confidence in AUD-denominated crypto trades.

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Crypto sector trends

Institutional activity remains a major driver of crypto sector trends. Bitcoin Spot ETFs saw net inflows of 7.31K BTC within the last seven days. This consistent, ongoing bid pressure seems to reflect long-term confidence from sophisticated players.

Solana (SOL) gained 5%, likely supported by the release of the first ETF launch this week. While the rally has slightly cooled, the move signals increasing attention to alternative layer-1 networks.

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Ethereum continues to attract institutional flows due to its DeFi leadership and ongoing ETF interest.

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Altcoin performance remains mixed. Bitcoin dominance remains high, limiting the potential for a broader ‘alt season.’ On-chain activity surged with platforms like PancakeSwap and Pump.fun, pushing DeFi fees to 2025 highs.

Meanwhile, projects like Ondo Finance continue to bridge crypto and traditional finance, including new regulatory pathways for Real World Assets (RWAs).

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What to watch this week

Several key events are scheduled this week that could drive volatility:

• Tuesday, 8 July: RBA Interest Rate Decision and commentary on Australia’s economy.
• Wednesday, 9 July: US FOMC Meeting Minutes and China CPI/PPI data.
• Wednesday, 9 July: Conclusion of US Tariffs pause - potential global trade implications.
• Token Unlocks (7–13 July): $629M TRUMP; $128M SUI; $11M IMX

Closing thoughts

With markets shifting fast, traders need more than just price charts - they need context. The past week’s consolidation signals underlying strength, but traders should remain alert to upcoming economic and sector-specific catalysts. This week’s calm might not last, so stay sharp and keep BTC Markets close at hand for expert insights and tools.

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