Bitcoin has defied short-term expectations to set a new all-time high (ATH) of $119K in a weekend characterized by dwindling liquidity. Other cryptocurrencies are posting impressive gains, with Ethereum (ETH) briefly clinching $3K ahead of Crypto Week.
Bitcoin Price Soars To New Peak
According to CoinMarketCap data, the price of Bitcoin spiked to reach a record high of $119,292, gaining nearly 2% in a day. Earlier in the day, Bitcoin traded as low as $116K as daily trading volumes fell by 20.19% to settle at $44.37.
While the ATH amid low liquidity levels is puzzling to investors, reports of Michael Saylor’s Strategy resuming Bitcoin purchases after a one-week pause have jolted prices. On the weekly chart, Bitcoin has gained nearly 10%, setting multiple new highs in a meteoric rally.
As the asset’s market capitalization climbed to $2.5 trillion, Alphractal CEO Joao Wedson urges caution as Bitcoin broke out with low volume, predicting a near-term correction. However, projections of higher prices for the largest cryptocurrencies have flooded the space amid heightened Trump tariffs.
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Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
