Bitcoin Smashes Through $105K—Just 3.5% Shy of Toppling Its All-Time High

BTC bulls are back in charge as the flagship cryptocurrency punches past $105,000—leaving traditional markets eating its dust. With only a hair’s breadth separating it from record territory, traders are bracing for either a breakout celebration or the usual Wall Street ’told-you-so’ retreat.

The rally comes as no surprise to crypto natives, who’ve watched institutional FOMO override legacy finance’s skepticism (and let’s be honest—their painfully slow Bitcoin ETF approval process). Whether this surge holds or becomes another ’buy the rumor, sell the news’ spectacle remains to be seen—but for now, the king of crypto is flexing.

Traders are clearly still holding positions, waiting for a push through the $105,787 resistance. If that level gets cleared, momentum could quickly drive it toward $120,000, a target that’s now being floated by analysts watching the charts.

But if the bulls fumble and Bitcoin fails to break past its old record, short-term holders could start cashing out, leaving $100,000 wide open for a breakdown. A dip under $100,703 might trigger a deeper selloff, especially if market sentiment flips fast.

Arthur Hayes sees Bitcoin as exit plan from US capital walls

Arthur Hayes, the co-founder of Bitmex and now chief investment officer at Maelstrom, dropped his latest macro blog where he warned that the United States, under pressure from rising debt and heavy reliance on foreign funds, is likely to turn to capital controls as an alternative to tariffs.

Arthur said this is going to be the next political MOVE because it’s easier to explain to voters than more taxes or money printing. He outlined a 2% tax on foreign-owned US assets, which he estimated total $33 trillion, as a more enforceable policy than tariffs.

Arthur said this kind of tax could cover the income taxes of 90% of Americans, making it politically attractive. But the consequences, according to him, WOULD include a retreat of foreign investment from US markets.

When that happens, Arthur believes the Federal Reserve will roll out stimulus again to stop the bleeding. That’s when Bitcoin steps into the spotlight.

“Bitcoin will be the best performing asset during this period of global monetary transformation,” Arthur wrote in the post. He said that even with capital restrictions, people will still be able to move money using the internet, adding, “As long as there is the internet, you will be able to sell fiat for bitcoin.”

US stock rebound drives shift toward global exposure and crypto

The broader market has now fully recovered from the April selloff. Major losses have been erased, and portfolios are back in the green. But for investors who rode the US stock market through the chaos without diversifying, this rebound is being seen as a rare second chance. Many are now being told to look abroad—and some are listening.

Global markets actually outperformed US stocks from January through April. For example, the VXUS ETF—which tracks international markets—has brought in over $6 billion so far in 2025. But that still looks small next to the $63 billion that’s poured into Vanguard’s S&P 500 ETF (VOO) this year. That fund is on track to smash its previous annual inflow record.

Despite that, analysts and portfolio managers are saying the message should be clear: investors who stayed too focused on US stocks need to balance out.

Even old-school investing figures like Warren Buffett and Jack Bogle have always leaned US-centric, arguing that multinational US companies already earn revenue worldwide. But now Warren is reportedly dialing back on some of those long-held domestic bets and putting more capital into Japanese markets.

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