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Bitcoin Breaks All-Time High Amid Bullish Momentum, $120,000 Target Possible According to Analysts

2025-07-10 19:43:40

Main Idea

Bitcoin has reached a new all-time high, driven by bullish momentum, institutional interest, and strong ETF demand, with potential targets up to $120,000.

Key Points

1. Bitcoin broke the $112,000 resistance level, reaching an intraday high of $113,833, ending weeks of consolidation between $106,000 and $110,000.

2. The cryptocurrency's dominance has climbed to 64%, a multi-year high, indicating strong market confidence.

3. Growing demand for Bitcoin ETFs has provided a regulated avenue for institutional investors, enhancing liquidity and market depth.

4. Altcoins may experience a late-summer rotation, though they remain sensitive to macroeconomic factors like Federal Reserve policies.

5. Corporate adoption of Bitcoin is expanding, with companies like Aker ASA and Rumble potentially adding Bitcoin to their balance sheets.

Description

Bitcoin has surged past its previous all-time high, igniting renewed optimism in the cryptocurrency market with potential targets around $120,000. This breakout has triggered significant liquidations and increased spot demand,

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