Bitcoin Price Unleashed: Surging Past $124K, What’s Next for the Crypto Market?

Key Points

1. Bitcoin's price has soared past $124,000, marking its fourth record high of 2025.

2. The surge is backed by Bitcoin's realized price climbing above its 200-week moving average, a significant bullish signal.

3. The realized price is an on-chain metric that reflects the average acquisition cost of the Bitcoin supply.

4. Historically, when the market price rises above the realized price, it indicates strong investor confidence and potential for further gains.

5. The current rally shares technical similarities with previous cycles in 2017 and 2021, suggesting potential for continued growth.