Finst

Bitcoin price breaks above $120,000: all-time high in sight

Bitcoin price rises again above the $120,000 mark, putting it just a short step from a new all-time high.

By Mike Hesp
• 1 min read
Bitcoin price breaks above $120,000: all-time high in sight

The Bitcoin price is rising again above the $120,000 mark and is thus just a short step from a new all-time high. The current all-time high sits around $124,500. Crypto trader Byzantine General explains on X: “$BTC has hit $120,000. I might see a brief pullback toward $115,000 soon, but at this point there’s really no reason why the price wouldn’t ultimately move toward the $124,000 zone.”

The broader altcoin market is showing solid gains as well. After Bitcoin dominance recently picked up again, chatter about a new altcoin season will grow louder. Especially if alt ETF launches after the government shutdown ends, momentum could tilt in favor of smaller crypto assets.

BTC futures open interest reached a new high of $32.6 billion. On-chain analyst Skew notes that short positions are piling up, which could open the door to a short squeeze.

JPMorgan also recently set a new price target for Bitcoin. If you want to buy Bitcoin, that can be done, among others, at Finst.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.