Bitcoin has broken into positive territory in its weekly chart, with a green candle indicating renewed bullish momentum. Traders are now closely watching the weekly close for confirmation of this trend and anticipate a potential breakout above the significant resistance level of $111,000. 10% price movement from current levels could trigger major liquidations of both short positions ($15.11 billion) and long positions ($9.58 billion), potentially leading to further rally towards higher highs. This bullish momentum is reinforced by factors like tightening supply post-April 2024 halving event, strong technical structure, and increased bearish sentiment reflected in negative funding rates.