Bitcoin hits fresh all-time high past $122K, eyes $125K liquidity sweep already

Key Points

1. Bitcoin surged to a fresh all-time high of $122K, marking its most aggressive rally of the cycle with a 12% increase from the previous week's range of $109K-$110K.

2. Technical indicators like MACD show bullish divergence, unlike past highs where bearish signals appeared shortly after peaks.

3. Over 65% of Binance accounts remain net short, indicating persistent disbelief, with a key short liquidity cluster at $123,317 holding around $52 million.

4. The rally is supported by billions flowing into ETFs, strong HODLer conviction, and short liquidations, with sentiment in greed but not yet reaching euphoria.

5. A break above the $123K liquidity zone could pave the way for Bitcoin to target $125K next.