Bitcoin Smashes New All-Time High of US$123,400 – What’s Next?

Bitcoin surged overnight, hitting a new all-time high of US$123,400, breaking through the psychological barrier with strong momentum and renewed investor optimism.

The rally has been building for weeks, but it was last night’s clean break past the previous high that caught the attention of global markets. Analysts point to a mix of macroeconomic tailwinds, increased institutional demand, and growing retail participation as key drivers of the surge.

This isn’t just a short-term spike. The move appears to be backed by strong conviction, with rising volumes and deep order books suggesting the rally has solid footing.

What Comes Next?

Now firmly in price discovery territory, the market is watching closely as new resistance levels begin to form. Some expect a short-term pullback, while others believe this breakout marks the start of a broader upward trend. In typical crypto fashion, momentum often accelerates quickly – if Bitcoin can hold above US$120,000, a run toward US$130,000 may not be far behind.

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Bitcoin has made its move – the question now is whether the market has the legs to keep running. Either way, it’s a reminder that in crypto, things move fast. Make sure you move smart.