Bitcoin has closed a significant CME gap at $110,740, reaching $111,000, signaling potential bullish momentum. Analysts highlight the easing of bearish trends and an improvement in Bitcoin's Percent Supply in Profit, which has increased from -12% to -6% over the past month. This development, coupled with rising global M2 liquidity now at $22.2 trillion, suggests a possible new all-time high for Bitcoin if current trends persist. Market analyst Ted Pillows and CryptoQuant's Axel emphasize the importance of these indicators in forecasting Bitcoin's trajectory.