Bitcoin simply smashed by a brand new all-time excessive, or ATH, touching $109,400 just some minutes in the past, with some trades nearing $110,000. This pump, pushed by a potent mixture of macroeconomic, institutional loves, and market momentum, alerts one other bullish breakout quickly.
If Bitcoin breaks $100K, you may wager it is going to hit $1 million – John McAfee
The crypto market is screaming optimism as
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reached its newest milestone. Easing US-China commerce tensions have slashed geopolitical dangers, making Bitcoin a first-rate safe-haven asset. The financial backdrop forces a risk-on sentiment, coupled with softer US inflation and a rebounding inventory market.
Bitcoin’s 16% month-to-month achieve and 46% rally from April’s low present its energy. Technicals and sentiment additionally align for one more leg up on the upside. However how excessive can it climb?
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Technically, Bitcoin’s chart may be very bullish. The breakout above $109,000 has cleared key resistance ranges, with the 50-day transferring common trending firmly upward and sustained momentum. And its Concern and Greed Index, though at greed, hasn’t hit its high greed but.
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The Relative Energy Index (RSI) hovers close to 70, indicating robust shopping for strain with out overbought circumstances. Quantity spikes on exchanges additional verify demand, supporting the rally’s endurance. Now, analysts are eyeing $120,000 as the following psychological goal.
(BTCRSI)
Easing commerce tensions is a significant catalyst. With US-China relations stabilizing, buyers are flocking to Bitcoin as a hedge towards uncertainties. This geopolitical calm has drawn cash to Bitcoin, similar to gold (will come again to this later), however with larger progress potential.
WOW! Shares surge after US China commerce deal!
MAGA
pic.twitter.com/gqeoUrFxp3
— GP Q (@argosaki) Might 13, 2025
Financial circumstances are equally supportive. Softer US inflation knowledge has eased fears of aggressive fee hikes, making a fertile floor for threat belongings. The inventory market’s restoration, up 12% this month, has spilled over into crypto, with Bitcoin because the chief.
Bitcoin ETFs noticed $3.6 billion in internet inflows this month, too, reflecting Wall Avenue’s rising urge for food. Excessive-profile purchases, like these from Michael Saylor’s Technique and Twenty One Capital, have sparked the rally. Company steadiness sheets with Bitcoin in them present a long-term bullish sign, pushing its worth towards uncharted territory.
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How Excessive Can This Go? One other Bitcoin ATH Coming This Yr
Market dynamics are the ultimate piece. Elevated liquidity, coupled with decrease promoting strain, has created an ideal storm for worth appreciation. Change inflows present minimal sell-side exercise, whereas on-chain knowledge reveals holders accumulating.
Social media sentiment is identical, with merchants celebrating Bitcoin’s 46% surge from April’s low. Some daring projections even recommend $500,000 by 2029. A pipe dream? Possibly not, particularly after some scientists are in a position to develop gold of their labs.
We noticed what occurred to diamonds earlier than. The worth of an actual diamond stops rising as soon as the lab-created ones are mass-produced, one thing that would additionally occur to gold. That is what makes Bitcoin the one different as a retailer of worth.
Scientists at CERN efficiently remodeled lead into gold for a split-second utilizing the Giant Hadron Collider.
Comply with: @AFpost pic.twitter.com/bqs868FWP9
— AF Submit (@AFpost) Might 16, 2025
For now, Bitcoin’s path to $110,000 and past appears to be like promising. With commerce tensions easing, economies stabilizing, establishments piling in, and laws turning favorable, Bitcoin’s momentum is plain.
Whereas $120,000 is the instant goal, the long-term ceiling can stretch far larger. Six figures is not a distant dream, as adoption and shortage drive the BTC worth skyward.
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Key Takeaways
Bitcoin simply breached a brand new ATH.
Bitcoin’s path to a different ATH appears to be like promising. With commerce tensions easing, economies stabilizing, establishments piling in, and laws turning favorable, Bitcoin’s momentum is plain.
The put up Bitcoin Simply Hit New ATH Nearing $110K: How Excessive Can It Go? appeared first on 99Bitcoins.
