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Bitcoin reaches a new all-time high of $118,000, driven by strong market momentum and institutional interest.
Support from the Federal Reserve’s expected rate cuts boosts crypto demand and investor confidence.
On-chain data shows rising BTC accumulation, decreasing exchange supply, and long-term holding trends.
Bitcoin (BTC), the world’s largest cryptocurrency, is making headlines again. Bitcoin hit another all-time high, clearing $118,000 at the time of press. The price now trades near $117,993, rising by over 6% in the past day.
This robust rally mirrors rising demand, solid global economic tailwinds, and expanding institutional confidence. Let’s unpack what’s behind this rally, where Bitcoin can go from here, and what risks remain.
The average price for a Bitcoin tablet PC has hit a new high of $118,423 overnight and has since pulled back slightly. This is the peak ever seen for the cryptocurrency. Only earlier this week, Bitcoin had topped $116,000, priming this most recent surge. In recent months, Bitcoin has been on a steady rise from $90,000–$100,000 levels and now trades comfortably above $115,000.
The rally is not a spike. Robust on-chain metrics, institutional backing, and bullish investor sentiment bolster it.
A few key markers underline this momentum:
Bitcoin erupts from a longstanding descending channel that had constrained it since early 2024. It’s the point at which you move from consolidation to expansion.
The 50-day moving average supports Bitcoin at $107,000. If prices dip, $107,000 is a critical point for buyers to re-enter. Below that is the psychological support at $100,000.
Resistance Levels: Any immediate resistance is observed close to $120,000 and $122,800. A decisive push above these levels can lead Bitcoin to even larger targets like the $130,000 or $140,000 level.
RSI continues to climb but remains under overbought levels, implying there remains additional upside. Volumes are trading volumes and are high, indicating robust interest from retail and institutional traders.
Bitcoin’s blockchain activity offers key indicators:
Active Bitcoin wallets are on the rise. More users are holding, trading, and transferring BTC than ever.
Massive BTC volumes are being transferred from exchanges to private wallets. This typically means that investors are becoming long-term holders, which decreases sell pressure.
Bitcoin wallets that haven’t moved in over a decade have become active recently. This, of course, causes selling concerns, but pretty much all of these funds are still sitting there.
Big investors aren’t giving up on BTC either, and whales keep accumulating, causing market scarcity.
Bitcoin’s now business as usual for corporate treasuries. Publicly traded companies hold approximately 847k BTC collectively. That’s up 23% vs. a year ago.
Here are a few of the most active companies in this space:
MicroStrategy, which has been buying Bitcoin since 2020, continues to add to its holdings.
GameStop, famous for its stock shenanigans, now puts a piece of its balance sheet into Bitcoin.
Figma, a design software firm, and Sequans, a communications company, raise their Bitcoin exposure.
These companies are utilizing Bitcoin to protect against inflation, diversify assets, and appeal to crypto-friendly investors.
Also Read - How to Use Deepseek to Predict Bitcoin Prices: An Easy Guide
Global trends are fueling Bitcoin’s expansion:
Interest rate expectations, with central banks like the US Federal Reserve likely to cut rates in the coming months. Lower rates tend to push more money into risk assets such as Bitcoin.
As the US Dollar weakens, Bitcoin gets more appealing as a store of value.
The US recently established a Strategic Bitcoin Reserve, seeking to secure the nation’s crypto future. States such as Texas and countries like Pakistan are supplementing their reserves with Bitcoin.
New crypto laws in Congress during ‘Crypto Week’ can influence Bitcoin’s future. These laws might make investors feel safer and more confident in Bitcoin.
Bitcoin could still rise if conditions stay favorable, analysts think. Some price targets are
$120,000–$122,800: Short-term targets if the momentum persists
$130,000–$140,000: Medium-term target by late 2025 if institutions continue to buy.
$146,000–$150,000: Bullish case, assuming adoption worldwide grows & regulation favors cryptomarkets.
Market-cycle and technical-trend-based models point to an ascent to $132,000 by mid-July, a 16% increase from today’s price.
Even in bull cycles, Bitcoin is highly volatile. Some risks could stall or reverse the rally.
Investors who bought earlier might sell to book profits, resulting in temporary dips.
Certain extremely old wallets, which have retained large quantities of BTC since 2011, have become active. If these funds are sold, it could overwhelm the market with supply.
If new crypto laws are harsh or if another country bans Bitcoin, market confidence could be impacted.
Any significant economic or political crisis can curtail risk-taking and impact Bitcoin’s price.
Here are a few key calendar items and data points to watch over the next several days:
Regulatory laws: Rules on the table during Crypto Week could define Bitcoin’s legal path
News and rumors, such as interest rates, inflation, or recession risk, can set investors into a frenzy.
ETF inflows: Should additional Bitcoin ETFs be approved or receive strong inflows, the price could spike.
Whale deals: These huge wallet movements can provide indications of significant buying or selling pressure.
Bitcoin’s rally is powered by robust demand, institutional backers, macroeconomic tailwinds, and encouraging technical indicators. Reaching a price of $118,000 represents a significant achievement. The adventure might not be complete. There’s resistance close to $120,000, but robust support at $107,000 and $100,000 provides a safety buffer.
Also Read - Is Bitcoin's Next Stop $140K? Analysts Predict Huge Price Surge After Breakout Confirmation
With growing adoption and more regulatory clarity, Bitcoin could maintain its upward trajectory for the remainder of 2025. Investors need to be vigilant, as the crypto market is infamous for sudden shifts. Bitcoin today is more than just a currency; it is a global asset class that is observed by banks, governments, companies, and individuals. This puts it in a precarious position as it wades deeper into the waters of the crypto market.
