Bitcoin (BTC) reached a major milestone this week, climbing to a record high of $112,022 on Wednesday afternoon. This marks a new all-time high for the world’s leading cryptocurrency, surpassing its previous peak from earlier this year.
According to experts, BTC has broken past key resistance levels after a period of consolidation. Market analysts suggest this breakout could signal further gains in the coming weeks.
John Glover, Chief Investment Officer at crypto lending platform Ledn, told MarketWatch that this move reflects a retest of Bitcoin’s earlier peak set on May 22. While that surge faced selling pressure, Glover pointed out that institutional investors are now showing renewed interest in BTC.
Companies like Trump Media & Technology Group and GameStop have announced plans to invest in Bitcoin. Their aim is to use BTC to strengthen their financial reserves, as reported by MarketWatch.
However, analysts warn that Bitcoin’s future performance may still depend on macroeconomic trends. A recent study in the International Review of Economics and Finance found that economic conditions greatly affect demand for cryptocurrencies like BTC.
Popular crypto analyst Doctor Profit believes Bitcoin’s rally is not yet over. He predicts BTC could soon reach between $120,000 and $130,000, depending on market behavior.
Doctor Profit outlined two possible paths. One suggests a brief drop to the $92,000–$93,000 range before a strong rebound. The other expects BTC to break above $113,000 without falling back.
As of the latest update, BTC has slightly corrected to $111,276. Traders are watching closely to see if this level will hold as a new support base.
BTC’s next move will likely depend on how investors respond in the current price zone. Market sentiment remains optimistic as more institutions continue to back Bitcoin.
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