Market analysts point to renewed institutional inflows and positive macro sentiment as key drivers, alongside momentum from the broader crypto market. Ethereum also saw a major move, spiking over 4% in the same period, hinting at a wave of cross-asset enthusiasm in digital assets.
Bitcoin hit a new all-time high of $123,503 on Wednesday night, source: Bitcoin Liquid Index
With Bitcoin now deep into uncharted territory, traders are watching for signs of whether this breakout can sustain — or if the market is due for a sharp round of profit-taking.
Analysts such as Bitwise are pointing to a Bitcoin price prediction target of $200,000 iin 2025.