Bitcoin Price Analysis: Sky Is The Limit As BTC Surges To New All-Time High

Bitcoin (BTC) soared to a new all-time high on Wednesday, crossing $112,000 on Coinbase before retreating and settling at $111,255. The flagship cryptocurrency’s rally was supported by strong institutional support, as traders threw caution to the wind and ignored tariff tensions. 

BTC and the broader market’s sharp rally saw over 114,000 traders liquidated, with a majority of losses due to short positions. 

Bitcoin (BTC) Soars To New All-Time High 

Bitcoin (BTC) rallied to a new all-time high, moving past $112,000 on Coinbase, as it hit record levels. The flagship cryptocurrency briefly crossed $112,000 on Wednesday, reaching $112,055 before retreating and settling at $111,255. The previous high on Coinbase was $111,891, set back in May. The flagship cryptocurrency surged on Wednesday after investors liquidated over $280 million in short positions, according to data from Coinglass. Strahinja Savic, head of data analytics at FRNT Financial, stated, 

“For the asset's proponents, the global situation is exactly why they would have bought the asset in the first place. In the U.S., there is growing awareness that the fiscal situation is unsustainable and that the country lacks the capacity for reform.”

BTC is up around 20% year-to-date despite trading between $100,000 and $110,000 as investors remained cautious about trade tariffs, a hawkish Fed, and macroeconomic uncertainties. 

“Beyond the U.S., there is no shortage of geopolitical and macro anxieties, from the Russia-Ukraine war to Middle East hostilities.”

Did Nvidia Surge Propel Bitcoin (BTC) Past $112,000?

Bitcoin (BTC) soared past $112,000 on Wednesday as an Nvidia-led rally pushed the flagship cryptocurrency to record levels. BTC has been trading in a range for weeks, despite billions flowing into spot Bitcoin ETFs. The stock market rallied on Wednesday after Nvidia became the first company to reach $4 trillion in market capitalization, albeit briefly. Investors also ignored negative sentiment around tariffs, creating a risk-on environment in the market. Institutions have embraced Bitcoin’s “digital gold” narrative. However, it remains a risky asset, rising and falling alongside the traditional markets. When markets are in risk-on mode and investors buy assets like tech stocks, BTC, and the broader crypto market rallies. 

Investors and analysts expect Bitcoin to reach new highs in the latter half of 2025 as corporate treasuries buy Bitcoin and the US gets closer to crypto legislation being passed in Congress. Ryan Gorman, chief strategy officer at Uranium Digital, predicted further bullishness, stating, 

“With crypto week on the horizon next week in DC, and a likely flood of positive momentum heading into the dog days of summer, bullish sentiment and thinner trading volumes could see prices gap up to $120,000 or higher by the end of next week. How far we rally through the summer is anyone’s guess, but open call interest outweighs puts, which normally reveals traders are bullish and expect upward price momentum to continue.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) re-entered price discovery mode on Wednesday after racing past $112,000. The flagship cryptocurrency started the week in the red, dropping nearly 1% on Monday. It recovered on Tuesday, rising 0.62% to $108,942. Bullish sentiment intensified on Wednesday as the price rallied past $112,000 before registering a marginal decline during the ongoing session. 

BTC's latest rally has unleashed a wave of optimism among analysts and investors, with Milk Road co-founder Kyle Reidhead believing a move to $150,000 is imminent. He highlighted a bullish “cup and handle” formation that could push the price to this level. The market optimism comes after weeks of consolidation, which raised concerns about BTC’s ability to surpass May’s record highs. The rally couldn’t have come at a better time for BTC. Just hours before its rally, an analyst stated that if the flagship cryptocurrency does not reach a new high within the next two weeks, it would have to wait till October to test these levels again. Market sentiment has picked up as well, with the Crypto Fear & Greed Index posting a “Greed” score of 71 out of 100. 

According to analyst Matthew Hyland, Bitcoin has broken out of its recent downtrend. Hyland stated, 

“BTC confirms daily higher-high and confirms an end to the downtrend that started in late May.”

Others, like eToro analyst Josh Gilbert, believe this is the first bull market that has clear institutional participation. 

“This is the first real bull market where institutional participation is front and center.”

BTC ended the previous weekend in positive territory, rising nearly 1% on Sunday (June 29) and settling at $108,350. The price was back in the red on Monday, dropping 1.09% to $107,168. Selling pressure intensified on Tuesday as BTC fell 1.33%, slipping below $106,000 to $105,740. The price recovered on Wednesday, surging nearly 3% to reclaim $108,000 and settle at $108,845. Buyers retained control on Thursday as BTC rose 0.73%, briefly crossing $110,000 before settling at $109,637. Despite the positive sentiment, BTC lost momentum on Friday, dropping 1.41% to settle at $108,097.

Source: TradingView

BTC recovered over the weekend, rising 0.19% on Saturday and nearly 1% on Sunday to reclaim $109,000 and settle at $109,231. Despite the positive weekend, the price was back in the red on Monday, dropping 0.88% to $108,273. BTC recovered on Tuesday, rising nearly 1% and settling at $108,942. Bullish sentiment intensified on Wednesday as the price soared past $112,000, settling a new all-time high before registering a marginal decline and settling at $111,255. The current session sees BTC marginally down as buyers and sellers struggle to establish control.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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