Bitcoin Surges 15% to New All-Time High of $118,404

Bitcoin has surged to a new all-time high of $118,404, leading a powerful, market-wide rally. The cryptocurrency market resumed its rally this week as nearly all the top assets broke out of bearish pressure to deliver significant gains. Bitcoin, the largest cryptocurrency by market cap, led the move by setting a record. Ethereum and the other top altcoins returned notable profits in an upsurge that resembles the beginning of another bull run.

According to data, Bitcoin climbed above the previous all-time high at $112,000 and reached a record price of $118,404. Most top cryptos followed Bitcoin’s trajectory by surging significantly, but none of them achieved their own all-time highs yet as of the time of the presentation.

Analysts are now eyeing higher targets, with some suggesting a potential move toward $170,000. The latest surge is described as a breakout, with projections that the cryptocurrency would continue to rise until it gets to between $140,000 and $170,000. The reasons for targeting higher Bitcoin prices include the Bitcoin’s skyrocketing demand relative to its diminishing supply.

Bitcoin treasury companies alone bought almost 160,000 Bitcoins, worth $17.4 billion in Q2 2025. This reflects a 66% rise in demand from Q1 2025. Spot ETF issuers also contributed to the growing demand for Bitcoin. Spot ETFs acquired 111,411 BTC, yet miners earned only 40,950 Bitcoins over the same period.

Despite Bitcoin’s latest achievements, most analysts think the cryptocurrency’s rally is only beginning. Bitcoin price is “coiled like a spring,” with the $170,000 region representing a short-term target. Bitcoin has consolidated over the past months and is prepared to catch up with other stocks that are already trading at new highs.

Bitcoin's price has surged past $112,000, setting a new all-time high amid surging institutional interest and safe-haven demand. The breakout triggered over $200 million in short liquidations and marked a key technical milestone. This bullish momentum was sparked in part by geopolitical events, particularly the announcement of sweeping new tariffs. As trade tensions rise, Bitcoin continues to solidify its role as a macro hedge and digital store of value.

Market structure has supported the rally. Bitcoin’s price action accelerated sharply after breaking above the $106,500 resistance level, a move that opened the door for price action to reach $108,000 and beyond. Liquidity clusters between $105,000 and $106,500 have been cleared, and the next leg of upward momentum hinges on maintaining support above that zone. A slight pullback is expected before the big breakout to a new all-time high. Sub-$100K is a potential reaccumulation zone in the event of a deeper correction, but overall market sentiment remains strongly bullish.

This latest all-time high also puts Bitcoin up nearly 90% year-over-year. Institutional demand remains a major tailwind. Spot ETF flows have continued to rise, and investor appetite shows no signs of slowing. In parallel, the U.S. macro environment, including inflation concerns, rate cut expectations, and now tariff shocks is creating ideal conditions for further Bitcoin strength. As BTC continues to consolidate above $110,000, traders and analysts are watching closely for confirmation of a clean breakout toward $120,000 and beyond.

The BTC price chart is currently coiled like a spring, with the next resistance level at $140,000, followed by a potential rise to $170,000. This bullish forecast reflects rising institutional confidence amid the current market conditions. The expert says that the BTC price chart is coiled like a spring, and this could lead to a surge toward $140,000 as the next main bull target.