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Bitcoin (BTC) reached a new all-time high of $112,022 on Wednesday, breaking through key resistance levels and signaling strong bullish momentum in the crypto market.
The surge marks a major milestone following weeks of consolidation and renewed investor confidence.
John Glover, Chief Investment Officer at crypto lending platform Ledn, told MarketWatch that this rally resembles a retest of Bitcoin’s earlier all-time high, recorded on May 22.
While that peak faced heavy selling pressure, Glover noted that institutional appetite for Bitcoin has increased significantly in recent months.
Publicly traded companies like Trump Media & Technology Group and GameStop have announced plans to add Bitcoin to their treasuries, highlighting the asset’s growing appeal beyond retail investors.
However, analysts warn that Bitcoin’s trajectory remains sensitive to broader macroeconomic conditions. A recent study in the International Review of Economics and Finance emphasized that crypto demand is closely tied to global economic developments, including trade dynamics and monetary policy.
$112,035.21. New #Bitcoin all-time high. pic.twitter.com/vJjTXz5kYp
— Bitcoin (@Bitcoin) July 9, 2025
Prominent market analyst “Doctor Profit” remains optimistic, suggesting Bitcoin could soon climb to $120,000–$130,000. He outlined two possible paths: one involves a short-term dip to $92,000–$93,000 before a rebound, while the other sees BTC breaching $113,000–$114,000 without retracing.
As of the latest trading data, Bitcoin has slightly pulled back to $111,276, attempting to establish this level as a new support base. Analysts say how BTC behaves in this zone will be crucial in determining whether it can continue its upward momentum.
