Bitcoin Breaks $123K ATH, CZ Calls It ‘Just a Fraction’ – Is Now a Good Time to Buy?

Key Points

1. Bitcoin hit a new all-time high (ATH) of $123,091, wiping out $1.3 billion in short positions and becoming the world's fifth-largest asset by market cap at $2.39 trillion.

2. Former Binance CEO Changpeng Zhao (CZ) noted that Bitcoin's current ATH will seem minimal in future years, referencing its historical price growth.

3. Bitcoin's market cap surged by $1.2 trillion since April 2025, with significant gains following political and legislative developments.

4. The Kobeissi Letter described Bitcoin as entering 'crisis mode,' with rapid price increases and institutional interest, including hedge funds allocating 1% of assets to BTC.

5. Historical data shows Bitcoin's bull markets have seen corrections of 20-25%, with the current pullback of 23.48% within typical ranges, supporting continued growth potential.

6. Technical analysis indicates Bitcoin is following a long-term exponential growth curve, with projections suggesting it could reach $200,000+ by December 2025.