A new all-time high of $109,487 was reached by Bitcoin (BTC), surpassing its earlier January peak of $108,786. This milestone was achieved four months after the previous record, as renewed bullish momentum was observed across the cryptocurrency market.
Bitcoin’s current price has been recorded at approximately $109,322, reflecting a daily increase of 4.59%. A market capitalization of $2.17 trillion has been reported, backed by a 24-hour trading volume of $59.05 billion. A volume-to-market cap ratio of 2.66% has indicated sustained investor enthusiasm.
Bitcoin’s breakout has also been influenced by broader economic developments. A partial withdrawal by President Donald Trump from trade conflicts, along with positive inflation data released this month, has been credited with enhancing investor confidence in risk-on assets.
Although Bitcoin fell below $75,000 in early April amid fears related to Trump’s aggressive tariff stance, a recovery was later observed as expectations were recalibrated by investors. The asset is now being viewed by markets as a safeguard against macroeconomic volatility and a depreciating U.S. dollar.
The integration of Bitcoin into global reserve holdings and its increasing recognition by major financial institutions such as JPMorgan have been cited as further affirmation of its evolving role in contemporary finance. The ongoing rally has been mirrored by steady inflows into U.S.-listed Bitcoin exchange-traded funds, even amid recent price volatility. High levels of institutional confidence continue to be observed, indicating a fundamental transformation in the perception of digital assets.
Could Bitcoin Be Poised for Another Record-Breaking Rally?
From a technical standpoint, a breakout above the significant resistance level of $108,000 has been achieved by Bitcoin. If the upward momentum continues, the next major psychological barrier is projected at $112,000. Immediate support has been identified around $105,400, and any decline beneath this threshold may potentially drive the price downward toward $103,350.
A bullish crossover has been observed between the 9-day and 21-day moving averages, currently positioned at $106,519 and $105,413, respectively. This pattern is typically seen as an early signal of continued upward momentum and has reinforced the prevailing optimistic outlook in the short term.
The Relative Strength Index (RSI) has been recorded at 70.75, slightly exceeding the overbought threshold. Its 14-day moving average, standing at 58.51, has indicated potential for continued upward movement while also signaling a need for increased vigilance. Should market momentum begin to ease, a minor RSI divergence might be observed, although current indicators continue to reflect strength.
Although some profit booking might be observed at current levels, an overall positive sentiment has been maintained. A projection has been issued by Standard Chartered, anticipating that Bitcoin could attain a value of $120,000 by the second quarter and may potentially climb to $200,000 before the year concludes.
, surpassing its earlier January peak of $108,786.){kind=link}