Bitcoin is currently testing new heights, breaking out of a two-month consolidation phase and drawing both enthusiasm and skepticism from market observers. Its recent historic rise in value has exponentially expanded the math-based fortune of its nameless founder. This increase has led to fresh discussions about whether it’s worth anything at all, versus old-school valuables such as silver.
Bitcoin's Breakout and Key Resistance Levels
Bitcoin just broke above $118,000 for the first time in history, providing an indication that its bullish trend may be continuing. The cryptocurrency is now worth more than $117,700 and not stopping as it looks to break above this level at which point it will have significant upward momentum. After several weeks of consolidation, this breakout indicates a resurgence of investor confidence and demand.
The next big test for Bitcoin is in the form of the psychological $120,000 resistance rubicon. If the price remains above this level, it will validate the breakout. This has the potential to ignite additional advances by reaffirming the bullish sentiment and attracting more investors. Market analysts are keeping a watchful eye on this level as a major indicator of Bitcoin’s short-term trajectory.
A lack of continued upward movement and a drop back underneath $109,000 would suggest a breakout that has failed. This event would be the catalyst for a deeper correction. That would mean the first spike was never meant to last, which would increase sell orders and cause investors to rethink the value of Bitcoin. The bottom line for investors Investors should be on the watch for volatility as price action gravitates toward these key levels.
ETF Inflows and Market Sentiment
On Thursday, June 11th, Bitcoin ETFs set a new record for inflows in 2025. As the price surged to new all-time highs, they drew in a jaw-dropping $1.03 billion. This influx of capital underscores the growing institutional interest in Bitcoin and its increasing acceptance as a legitimate investment asset. That massive ETF inflows are producing unprecedented $10 billion inflow shows that a tremendously bullish sentiment is going on the market.
The all time high ETF inflows underscore these investment vehicles’ fundamental importance in influencing Bitcoin’s price movements. ETFs provide a productive and attractive avenue for investors to gain Bitcoin exposure in a regulated environment. This creativity has opened up the cryptocurrency’s reach and inspired further participation from an increasing base of retail and institutional investors. This improved accessibility has combined to cause a recent perfect storm of increased demand and price appreciation.
Despite the lingering macro-economic negativity, market sentiment continues to be overwhelmingly positive, propped up by the ETF inflows and the breakout above established prior resistance levels. This is a time for caution, as the cryptocurrency market is notorious for its rollercoaster excitement. Investors need to watch Bitcoin’s key support and resistance and broader macroeconomic factors that can impact BTC’s price.
Schiff's Silver Stand and Bitcoin Skepticism
America’s best-known economist and Bitcoin skeptic, Peter Schiff has long promoted silver as the far-better investment. Recently, he highlighted that silver surged above $37 per ounce, up almost 2% in a single session, yet silver mining stocks barely budged, pointing out what he perceives as a disconnect in the silver market. Schiff just a few weeks ago sounded the alarm on silver’s price surge, but shrugged off Bitcoin’s new all-time highs as a mere distraction.
Schiff’s single-minded obsession with silver versus Bitcoin, though, signals a larger argument between competing assets who all want a spot in the spotlight. He has long argued that Bitcoin is a speculative bubble, while silver offers tangible value and serves as a hedge against inflation. His sharply opposing viewpoints highlight the trenches into which fundamentally different investment philosophies and risk tolerances have dug themselves among market participants.
Only a complete change of heart on pricing everything in BTC would get Schiff to re-evaluate Bitcoin. He is a Bitcoin skeptic to his core. Despite this, he believes bitcoin does not have the intrinsic qualities of a true store of value. Bitcoin defenders contend that the cryptocurrency’s limited supply and lack of central authority prove it a better investment than other assets. These assurances do not satisfy Schiff.
Expert Perspective: Nikolay Kolev on Crypto Investments
Nikolay Kolev is a crypto investor and digital assets advocate with deep interest in new technologies and their disruptive potential. He has an incredible vision for what we can do with these new mechanisms that we’re creating through crypto. His insights provide an essential framework for understanding and adapting to the realities of the ever-evolving digital asset landscape.
He’s made a name for himself as someone with an aptitude for taking calculated risks and squeezing value out of non-traditional investments. His real skills are in knowing what projects to bet on and more importantly the technologies that power their success. His unique winning approach mixes technical analysis with a broad comprehension of market trends and investor behavior.
Based on Kolev’s take, Bitcoin’s recent surge could be the start of something bigger. Smith thinks the subsequent breakout above $118,000 was an encouraging development. While that’s a great encouragement, he warns against forgetting to watch for major resistance zones and staying cautious as volatility could loom on the horizon. He highlights the significance of ETF inflows as a driver of demand and acknowledges the ongoing debate between Bitcoin proponents and skeptics like Peter Schiff.
