Bitcoin has surged to a new all-time high, reaching approximately $112,000 on Wednesday, July 10, 2025. This peak occurred during afternoon trading amidst a broader rally in technology stocks. The flagship cryptocurrency hit $112,052.24 just before 4:00 p.m. ET, surpassing its previous record of $111,999 set on May 22. Subsequently, it traded around $110,947, marking a 1.9% increase for the day, according to Coin Metrics. Earlier in the day, Bitcoin reached a monthly high of USD 112,035.21.
This upward movement reflects strong market momentum, exceeding its previous peak of USD 111,332.88 recorded on May 23, 2025. The surge aligns with investors embracing a risk-on sentiment, which also propelled the Nasdaq Composite to a record close. Nvidia, a chipmaker, briefly achieved a $4 trillion market capitalization for the first time, boosting sentiment across the tech sector and related areas like crypto.
Despite significant inflows into Bitcoin exchange-traded funds (ETFs) and increased direct purchases by public companies, Bitcoin's price had remained relatively stable in recent weeks. Over the past month, the price has increased by only about 2%, with corporate buying in the second quarter surpassing ETF inflows. While many institutions view Bitcoin as "digital gold," its behavior continues to align with that of a risk asset, often rising alongside equities when markets favor growth and risk exposure.
Currently, Bitcoin is trading near $108,865, fluctuating between $108,200 and $109,200. The asset is maintaining a tight range within a triangular structure, as bulls aim to hold above the short-term ascending trendline.
Investor expectations are building for further gains in the second half of the year. Anticipated regulatory developments, such as potential progress on crypto legislation in Congress, and seasonal factors, including thinner trading volumes in summer, are contributing to the bullish outlook. Analysts have observed that derivatives positioning is tilted towards calls over puts, indicating prevailing optimism for continued upward momentum. Some market observers suggest that if positive sentiment and momentum persist, Bitcoin could reach $120,000 or higher in the near term.
Technical analysis of Bitcoin's price movements reveals a few key patterns. The daily structure continues to respect the uptrend, with BTC trading above the 100 and 200 EMAs, and no signs of breakdown from major trendlines yet. This indicates that buyers remain in control unless the price closes below $107,000 on high volume.
However, the 30-minute chart shows a sequence of bearish RSI divergences, with the price forming higher highs while the RSI steadily declines, signaling weakening upside momentum despite price pushes. The RSI has rebounded modestly to 53.8 but remains below bullish extremes. Additionally, MACD lines have crossed slightly negative, with histogram bars reflecting muted bearish momentum, suggesting a potential equilibrium phase rather than an impulsive drop.
