Bitcoin (BTC) reached a new all-time high of $109,487, surpassing its previous January peak of $108,786. The cryptocurrency hit this milestone just four months after its last record, fueled by renewed bullish momentum across the broader crypto market.
Bitcoin currently trades at approximately $109,322, marking a 4.59% daily increase. Its market capitalization stands at $2.17 trillion, supported by a 24-hour trading volume of $59.05 billion. A volume-to-market cap ratio of 2.66% has indicated sustained investor enthusiasm.
Broader economic developments have also fueled Bitcoin’s breakout. President Donald Trump’s partial withdrawal from trade conflicts and this month’s positive inflation data have boosted investor confidence in risk-on assets.
Although Bitcoin dropped below $75,000 in early April due to fears over Trump’s aggressive tariff stance, investors later recalibrated their expectations, leading to a recovery. Markets now view the asset as a hedge against macroeconomic volatility and a weakening U.S. dollar.
Major financial institutions like JPMorgan have increasingly recognized Bitcoin and integrated it into global reserve holdings, affirming its evolving role in modern finance. Steady inflows into U.S.-listed Bitcoin exchange-traded funds have accompanied the ongoing rally, even during recent price volatility. Institutions continue to show strong confidence, signaling a fundamental shift in how digital assets are perceived.
Could Bitcoin Be Poised for Another Record-Breaking Rally?
From a technical standpoint, Bitcoin has broken above the significant resistance level of $108,000. If the upward momentum persists, the next major psychological barrier could be $112,000. Immediate support sits around $105,400, and a drop below this level may push the price down toward $103,350.
The 9-day moving average has crossed above the 21-day average—currently at $106,519 and $105,413, respectively—indicating a bullish crossover. This pattern typically signals continued upward momentum and has strengthened the prevailing short-term optimism.
The Relative Strength Index (RSI) currently stands at 70.75, slightly above the overbought threshold. Its 14-day moving average, at 58.51, suggests potential for continued upward movement but also calls for heightened vigilance. If market momentum slows, a minor RSI divergence may emerge, though current indicators still point to underlying strength.
Although some investors may book profits at current levels, overall market sentiment remains positive. Standard Chartered projects that Bitcoin could reach $120,000 by the second quarter and potentially climb to $200,000 before year-end.
 reached a new all-time high of $109,487, surpassing its previous January peak of $108,786. The cryptocurrency hit this milestone just four months after its last record, fueled by renewed bullish momentum across the broader crypto market.){kind=link}