Bitcoin Builds Pressure with Bullish Patterns as ETFs Fuel Breakout Hopes
By Crispus Nyaga
June 28, 2025 | Edited by Anthony Patrick
Bitcoin (BTC) has been demonstrating strong bullish momentum in the crypto markets, fueled by robust inflows into U.S. spot Bitcoin Exchange-Traded Funds (ETFs) and the formation of key technical patterns. These developments are raising hopes of an imminent breakout to fresh all-time highs, potentially surpassing the $111,900 peak previously reached.
Technical Analysis: Bullish Flag and Cup-and-Handle Patterns Emerge
Over the past few days, Bitcoin has been trading near a critical resistance level around $107,000, holding steady for approximately three days after nearly a 10% rally from its weekly low. Chart analyses indicate the formation of two notable bullish patterns: the "cup-and-handle" and the "bullish flag."
- Cup-and-Handle Pattern: This classic technical formation involves a rounded bottom (the cup) followed by a consolidation phase (the handle), often signaling a continuation of upward momentum upon breakout.
- Bullish Flag Pattern: Characterized by a sharp upward movement (flagpole) followed by a brief downward or sideways channel (flag), this pattern typically suggests a pause before the asset continues climbing.
Bitcoin’s current price action suggests it remains comfortably above its 50-day and 100-day Exponential Moving Averages (EMAs), a strong indicator that buyers have the upper hand in the near-term.
ETF Inflows Drive Increased Demand
Contributing significantly to Bitcoin’s bullish sentiment are the inflows into U.S. spot Bitcoin ETFs. According to recent data from SoSoValue, these ETFs attracted $2.2 billion in net inflows this week alone, marking the third consecutive week of positive additions. This figure represents a substantial increase from the $1.02 billion net inflow reported the previous week.
For the month so far, ETFs have accumulated $4.5 billion in inflows, a decline from $5.2 billion in May but still demonstrating strong investor appetite. Since the inception of these ETFs, cumulative inflows have reached nearly $48.87 billion, with market watchers anticipating that the $50 billion milestone could be crossed as early as July.
Among the leading funds are BlackRock’s iShares Bitcoin Trust (IBIT), which has amassed over $52 billion in assets making it one of the largest ETFs in the U.S., and Fidelity’s FBTC, which holds $21.5 billion with $12 billion in inflows to date.
Supply Constraints Support Bullish Momentum
Adding to the positive outlook is the significant reduction in Bitcoin supply available on exchanges. Data from Santiment indicates that the number of BTC coins held on exchanges has dropped to roughly 1.21 million, its lowest level since December 2017. This scarcity may help fuel further price appreciation as buying pressure increases in a tightening supply environment.
Outlook: Breaking Above Resistance Could Signal New Highs
Bitcoin’s recent rebound—from a weekly low of $98,253 to the current range near $107,790—positions it well for an attempt to surpass the $111,900 all-time high. A sustained move above this key resistance level would open the door for further gains, with $115,000 cited as the next psychological target among traders.
Given the combination of strong ETF inflows, shrinking exchange inventories, and positive chart patterns, crypto analysts are increasingly optimistic that Bitcoin’s bullish run may continue into the coming weeks.
Key Bitcoin Metrics (as of June 28, 2025)
- Price: $107,790.00
- 24h Volume: $11.78 billion
- Market Cap: $2.14 trillion
- 24h Range: $107,206.00 – $108,449.00
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