Bitcoin Surges 2% to $109,236, Eyes New All-Time High

Bitcoin is currently trading at $109,236, demonstrating robust momentum that could propel it past its previous all-time high of $111,970. According to top crypto trader Michael van de Poppe, Bitcoin has cleared a significant hurdle by surpassing the $106,500 level, which has pushed out short traders and provided the cryptocurrency with more energy to rise. This breakthrough has led to a firm hold near the $109,000 mark, indicating strong buying pressure and building momentum.

Michael van de Poppe's analysis suggests that the next target for Bitcoin is around $110,500. If the cryptocurrency can maintain its position above this level, it could potentially break its old all-time high of $111,970 or even surpass it in the next couple of weeks. However, even with this strong momentum, Michael believes that Bitcoin could experience small dips along the way. In such a scenario, traders are closely watching the $105,500 area and the $100,000 zone as potential support levels to add more positions.

Adding to the bullish sentiment, Standard Chartered, one of the world's top banks, has shared a bold Bitcoin forecast. They predict that Bitcoin could reach $135,000 by the end of the third quarter of 2025 and potentially touch $200,000 by the end of this year. This optimistic outlook further fuels the hope among traders that Bitcoin's rally is far from over.

With Bitcoin holding above $109,000 and traders feeling confident, the next one or two weeks could be pivotal for the crypto market. The cryptocurrency's strong performance, positive market sentiment, and the potential to break through key resistance levels all contribute to the anticipation of a new all-time high. Analysts are optimistic about Bitcoin's prospects for the remainder of the year, with some predicting that it could hit $135,000 in the third quarter of this year, further supporting the notion that a new ATH is within reach.

In summary, Bitcoin is poised to hit a new all-time high in the coming 1-2 weeks, driven by its strong performance and the potential to break through key resistance levels. The cryptocurrency's momentum is building, and analysts are optimistic about its prospects for the remainder of the year. The overall market sentiment is positive, with investors loading up on crypto assets, and the recent rally in Bitcoin has been accompanied by a powerful rally in altcoins, led by Ethereum. This broad-based momentum suggests that the cryptocurrency market is gaining traction, and Bitcoin is at the forefront of this movement.