Bitcoin Hits New All-Time High: How Much Higher Can It Go?

Bitcoin price continued its upward trajectory on Thursday, soaring to a fresh bitcoin all-time high of $111,861 during early European trading hours. The world’s largest cryptocurrency has now surpassed its previous record set just before former President Donald Trump’s January inauguration.

Since plunging to around $76,000 in April, amid investor flight from risk due to escalating global trade tensions, BTC has gained approximately 45%, buoyed by easing macroeconomic fears and renewed appetite for digital assets.

Bitcoin (BTC) price reached a new ATH of $111,861.22 on May 22. Source: TradingView

Why is Bitcoin Price Surging?

Momentum picked up this week following a series of positive regulatory and institutional developments in the U.S.

On Monday, the U.S. Senate voted to advance the GENIUS Act, a bill aimed at establishing a regulatory framework for stablecoins—widely seen as a stepping stone toward clearer rules for the broader crypto industry.

In another notable shift, JPMorgan CEO and longtime Bitcoin skeptic Jamie Dimon announced that the bank will allow its clients to purchase the digital asset, marking a significant departure from his previous stance.

Corporate interest in BTC is also intensifying. Michael Saylor’s MicroStrategy added another $765 million worth of Bitcoin last week, pushing the company’s total holdings to over $63 billion.

Bitcoin Rises as U.S. Markets Fall, Breaking Usual Pattern

Bitcoin price is on the rise even as U.S. stock markets closed lower on Wednesday, marking a break in its usual alignment with equities. The world’s largest crypto often mirrors the performance of the tech-heavy Nasdaq, but this time the pattern has flipped.

The divergence may reflect growing investor unease over broader macroeconomic risks. Some are turning to Bitcoin as a potential store of value amid uncertainty. 

One possible factor is the recent move by credit ratings agency Moody’s, which downgraded the U.S. sovereign credit rating last week.

What’s Next For Bitcoin?

According to market analysts, Bitcoin’s key short-term support levels are currently seen at $107K, followed by $100K and $92K.

Many see holding above $107K as important to avoid a deeper drop, especially toward the $100,000 mark, which could trigger more selling.

On the upside, $112K is seen as the next resistance level. Joe DiPasquale, CEO of crypto hedge fund BitBull Capital, predicts that if current momentum continues, Bitcoin may soon test $120K.

According to him, with strong ETF inflows and a supportive macro environment, Bitcoin price might reach $120K not in months, but within weeks.

Why This Matters

This rally isn’t just about price action — it signals growing institutional confidence, regulatory clarity, and Bitcoin’s evolving role as a financial safe haven in uncertain times.

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