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Bitcoin Eyes $168K Breakout as Global M2 Supply and Cup-and-Handle Pattern Fuel Bullish Momentum

Bitcoin Eyes $168K as Global M2 Surge and Chart Pattern Trigger Bullish Sentiment

Bitcoin (BTC) is showing strong signs of recovery in the last 24 hours, with bulls pushing the price past $107K. This comes as the Global M2 Money Supply continues to rise and a cup-and-handle pattern emerges on the daily chart — both of which have historically signaled potential rallies.

bitcoin

The Global M2 Money Supply, which includes M1 (cash, checking), savings, time deposits, and money market funds, has been increasing. Historically, Bitcoin price follows the Global M2 trend about 12 weeks later, giving investors another reason to stay bullish.

In the daily timeframe, BTC is in the process of completing a cup-and-handle formation, a classic bullish continuation pattern. If BTC breaks above its previous highs, it could rally toward $168K, based on a 50% depth projection from the cup.

Key levels to watch are $107.2K and the psychological barrier of $110K. A breakout above these could trigger the next major rally.

Despite macro uncertainties such as the Israel-Iran conflict and U.S. trade jitters, spot BTC ETF inflows remain strong, highlighting institutional confidence. Meanwhile, RSI is at 53 and rising, indicating bullish momentum without being in the overbought zone.

BTC currently trades at $107,050, with a 24-hour gain of 2%, and volume up 18%, showing renewed interest among traders.

Also, Bitcoin futures open interest (OI) has jumped over 4% in the last 24 hours, now totaling $72.16 billion, another signal of increasing market activity.

All eyes are now on Bitcoin’s ability to break above resistance — a move that could reshape the short-term crypto landscape.

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