Bitcoin Clears Path to $140K, Bitfinex Analysts at Crossroads

Order flow data indicates that Bitcoin may be entering a consolidation phase rather than preparing for another vertical rally, according to Bitfinex.

ETF Inflows and Macro Factors Still Supportive

Despite signs of exhaustion, institutional appetite remains strong. Bitcoin ETFs in the US have seen 15 consecutive days of net inflows, totaling $4.75 billion as of June 30.

On June 30, spot Bitcoin ETFs saw a total net inflow of $102 million, marking 15 consecutive days of net inflows. Spot Ethereum ETFs recorded a total net inflow of $31.76 million, with all nine ETFs showing no outflows.

— Wu Blockchain (@WuBlockchain) July 1, 2025

Economist Timothy Peterson described last weeks $2.2 billion inflows as “massive,” expecting the positive streak to continue and potentially support further price appreciation.

Massive inflows into US Bitcoin ETFs last week!

$2.2 billion!

This ranks among the top 10 weeks since inception.

70% chance next week will be positive too, which generally correlates to upward price pressure. pic.twitter.com/m8x9SY9Dvo

— Timothy Peterson (@nsquaredvalue) June 29, 2025

Eyes are now on the Federal Reserves upcoming interest rate decision on July 30. Lower rates typically favor risk assets like Bitcoin, though current market estimates suggest only a 19% chance of a cut.

Technical Outlook: Key Fibonacci Levels in Play

As visible on the daily chart, Bitcoin is currently trading near the 0.786 Fibonacci level at approximately $108,000, a crucial resistance zone.

If this level is decisively broken, the next major Fibonacci targets stand at 1.618 Fib extension ($118,275), 2.618 Fib extension ($130,538), and 3.618 Fib extension ($142,801).

Bitcoin OBV, MACD Indicators on 1D Chart | Source: TradingView

On the flip side, support levels lie near the 0.618 Fib zone ($105,000) and the psychological barrier at $100,000.

The On-Balance Volume (OBV) remains steady, suggesting that despite profit-taking, theres no mass exodus from the asset. However, the MACD is showing early signs of a potential bearish crossover, indicating possible short-term weakness.