Bitcoin (BTC) has set a new all-time high, crossing the $113,000 mark during Thursday’s trading session. This fresh record comes after multiple rejections at the $112,000 resistance level, confirming strong bullish sentiment and sustained institutional interest.
Bitcoin Price Hits $113,000 for the First Time
Bitcoin’s latest surge marks a historic moment for the cryptocurrency market. After consolidating below $112,000 for several sessions, BTC finally broke above key resistance and reached a new high of $113,250 in early trading hours.
The move was accompanied by increased volume and positive technical signals, signaling renewed confidence among investors. Traders are now watching whether Bitcoin can maintain this level and continue its upward trajectory toward the next potential target at $118,000–$120,000.
Breakout Confirmed by Volume and On-Chain Metrics
The breakout above $113,000 was supported by strong trading volume and declining Bitcoin balances on centralized exchanges. These metrics suggest that long-term holders are withdrawing BTC into cold storage, reducing sell-side pressure in the spot market.
In addition, on-chain data shows increasing flows into institutional platforms, including ETF-related custody solutions, indicating that larger entities continue to accumulate Bitcoin during the uptrend.
Technical Outlook Remains Bullish
From a technical perspective, Bitcoin has broken out of a prolonged consolidation zone, completing a bullish continuation pattern. The Relative Strength Index (RSI) remains in favorable territory, while the 50-day and 100-day moving averages are trending upward, further confirming momentum.
A daily close above $113,000 would establish this level as a new support zone and potentially open the door for a parabolic move toward $125,000.
Macro Factors Supporting Bitcoin’s Strength
Bitcoin’s breakout also aligns with favorable macroeconomic conditions, including growing expectations of a U.S. interest rate cut later this year. As inflation concerns persist and fiat currencies remain under pressure, Bitcoin continues to strengthen its position as a global store of value.
With institutional demand rising and investor sentiment turning increasingly positive, Bitcoin appears poised to enter a new phase of price discovery.
The move above $113,000 marks a significant milestone not just for Bitcoin holders but for the broader digital asset market. All eyes now turn to how the asset performs in the coming sessions—and whether the bulls can keep up the momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.