- Bitcoin retests $108K neckline; holding it keeps bullish target near $144K intact.
- Coingecko shows BTC at $112,888 with $32.67B volume, strong liquidity, steady activity.
- Coinglass notes $38M liquidations; longs dominate, but higher lows sustain a bullish trend.
Bitcoin is trading near an important level after forming an inverse head and shoulders structure on the weekly chart. The neckline, positioned around $108,000, was broken earlier in 2025 when the price advanced to nearly $120,000. The market is now retesting this neckline, and its ability to hold as support is being closely watched.
Bitcoin Retests Neckline After Breakout
BTC is retesting the neckline, and holding it is key while losing it could open the door to a deeper correction, according to an observation by Titan of Crypto. The formation developed between December 2024 and June 2025, and the technical projection from this pattern sets an upside target near $144,105.
Coingecko data shows Bitcoin trading at $112,888, reflecting a 0.4 percent decline over 24 hours. The price moved between $112,023 and $113,827, with a brief rise toward $113,800. Market capitalization stands at $2.247 trillion, equal to its fully diluted valuation as most of the supply is in circulation. Circulating supply is 19,909,815 BTC, leaving fewer than 1.1 million to be mined.
Bitcoin recorded 24-hour trading volume of $32.67 billion, showing strong liquidity and steady participation. Market value remained above $112,000 throughout the day, while capitalization fluctuated between $2.23 trillion and $2.27 trillion in line with price changes.
Technical and Derivatives Market Outlook
According to analysis prepared by Coinglass, weekly candlesticks show the neckline has been respected multiple times. Fibonacci retracement levels also align with this area, giving further support to the bullish scenario. If the level holds, the projected target of $144,105 remains valid.
Derivatives data revealed mixed trends. Trading volume decreased 9.89 percent to $69.87 billion, while open interest increased to $81.17 billion. Options activity rose strongly, with volume up 26.95 percent to $5.79 billion, though options open interest fell to $52.72 billion.
Liquidations reached $38.09 million in 24 hours, with $30.61 million from longs and $7.48 million from shorts. Since April 2025, Bitcoin has maintained higher lows, suggesting ongoing buyer strength. A successful hold above the neckline would preserve the bullish roadmap toward $144,105.
