Bitcoin Poised for Historic $109K Weekly, Monthly Close

Bitcoin Nears Historic $109K Weekly and Monthly Close

Bitcoin is on the verge of making history as it approaches a $109,000 close for both its weekly and monthly candles. As of June 29, BTC rose above $108,500, fueled by low liquidity and aggressive market activity.

Wynn’s Flip Fuels Weekend Surge

Known Hyperliquid trader James Wynn triggered market excitement when he opened a $13.9 million short on BTC. Traders quickly pushed the price close to his liquidation level of $108,630.

Before liquidation, Wynn closed his short and flipped to a long position with 60 BTC. This reversal added bullish momentum and stirred weekend volatility.

🔍 Market Signals Stay Bullish

Short-term charts show buyers remain in control. Trader Autumn Riley noted that BTC formed higher lows after each pullback. This pattern suggests weakening seller pressure.

Trader BitBull also pointed out a golden cross on the MACD, a sign of bullish strength. He added that although weekend liquidity is low, more volatility is likely once markets reopen.

BTC Eyes Record Candle Closes

Analyst Rekt Capital emphasized the importance of the upcoming close. A weekly close above $109,000 would mark Bitcoin’s highest in history. He explained that this could signal the start of a fresh uptrend toward new all-time highs.

On the monthly chart, BTC has already exceeded the current record close of $104,630. Rekt Capital previously stated that a close above $102,400 confirms a monthly breakout, which has now occurred.

Traders are watching closely as Bitcoin approaches these key levels. If the price holds, BTC could open July with strong momentum.