Bitcoin Hits New All-Time High at $119,292.62, Gains 9.22% in Week

Bitcoin, the world's largest cryptocurrency, has once again broken its all-time high price record, reaching $119,292.62. Following this historic high, the price has slightly retreated and is currently trading at $118,979.14. This surge has garnered significant investor attention, with Bitcoin gaining 9.22% over the past seven days.

The cryptocurrency market experienced a total of $205.37 million in liquidations within the last 24 hours. Notably, $83.77 million of these liquidations came from long positions, while $121.59 million were from short positions. The assets with the most liquidations included Bitcoin (BTC) at $41.13 million, Ethereum (ETH) at $35.06 million, XRP at $15.32 million, and XLM at $10.69 million. Additionally, altcoins such as PENGU, DOGE, SOL, and HBAR also saw liquidations worth millions of dollars.

Bitcoin's recent rally can be attributed to several factors. Historically, Bitcoin has shown a strong correlation with tech stocks, a trend that continues to this day. The cryptocurrency has risen around 21% since the beginning of 2025, supported by crypto-friendly policies from the administration, including the creation of a strategic Bitcoin reserve and the expansion of digital asset holdings. Analysts suggest that the underlying reason for this rally is the ongoing structural inflows from institutional investors. Companies continue to accumulate Bitcoin, with firms like MicroStrategy and GameStop adding BTC to their balance sheets.

Furthermore, Trump Media & Technology Group reportedly filed an application this week requesting approval to launch a “Crypto Blue Chip ETF” with approximately 70% of its portfolio comprised of Bitcoin. This move indicates a growing interest in Bitcoin from major players in the financial sector.

The recent price surge has also been driven by demand from institutional investors, who have been accumulating Bitcoin at a rapid pace. Despite this, retail investors seem reluctant to jump back into the market. This discrepancy highlights the growing divide between institutional and retail participation in the cryptocurrency space.

Bitcoin's new all-time high is a testament to its continued strength and resilience in the face of market volatility. As the cryptocurrency market evolves, Bitcoin remains a key player, attracting both institutional and retail investors alike. The recent price movements and liquidations underscore the dynamic nature of the cryptocurrency market, where fortunes can change rapidly.