🚀 Bitcoin Shatters Records: Hits $123,000 ATH—$127,000 Target in Sight?

Bitcoin just bulldozed through another psychological barrier—flipping 'impossible' into 'inevitable' as institutional FOMO meets retail frenzy.

The new floor? Forget support levels—this market laughs at technicals. When a single Elon tweet can trigger a 10% swing, TA is just astrology for finance bros.

What's next? The $127k resistance isn't a question of 'if' but 'when.' Though let's be real—Wall Street will still call it a 'bubble' while quietly allocating 5% of their pension funds to it.

One thing's certain: the 'digital gold' narrative just got a tungsten upgrade. Meanwhile, Jamie Dimon's probably drafting another 'I told you so' speech—right after JPMorgan's crypto desk hits their quarterly profit target.

• Bitcoin surged above $123,000 after ETF inflows and Trump’s tariffs sparked risk-off sentiment in global markets.
• Over $459 million in shorts were liquidated in 24 hours as volume spiked 143%, showing traders’ confidence in the rally.
• Despite high momentum, BTC funding rates stay low, signaling a stable rally with room for continued upside.

Bitcoin surpassed the $123,000 mark and posted a new multi-week high after consolidating between $118,000 and $118,000. The bullish momentum can be sustained by the fact that ETF inflows are coming in, on-chain positions are increasing, and geopolitical tension.

The uncertainty in the traditional markets due to the 30% tariff announced by U.S. President Donald TRUMP on goods imported to the U.S. and originating in the EU and Mexico has prompted more funds to rush into Bitcoin.

The market has experienced a steep change in the past 24 hours. According to Coinglass data, $459.02 million of short positions were liquidated. This liquidity panic was accompanied by a 143.23% surge in the trade volume. The open interest also shot up by 7.28% and was at $89.38 billion, which shows high involvement of traders and trust in the uptrend.

Source: Coinglass

The buying has been spirited, yet the rates are still stable. The interest-weighted funding rate of BTC is only 0.0075%, which indicates that a rally has not been overheated. The traders seem to be gaining with calculated risk, and that has given the market further space to run.

Bitcoin Rally Eyes $127,000 Mark

Analyst Ali Martinez cited the MVRV pricing bands, which acted as solid zones of local highs in the past. According to this analysis, the second major resistance can occur around $127,000. Martinez cautioned that price is more likely to challenge these higher bounds, but after every rally, there was a tendency to correct moderately afterwards.

Technically, the momentum is very strong. The MACD indicator demonstrates a precise bullish crossover since the MACD line is higher than the signal line, and the histogram rises. The Relative Strength Index (RSI) is 85.86, which indicates that it is an overbought market. Although this proves the momentum, it could also indicate the potential temporary stalling or decline.

An increase in volume lends additional strength to a breakout. An amplified level of participation also aids sustainable price activity. The current increase in the volume is indicative of the belief by the retail and institutional parties.

Bitcoin Enters Top Five Global Assets

Essentially, Bitcoin has achieved a new milestone. It has now become the fifth-largest asset in the current market capitalization globally, beating powerhouses such as Amazon, Silver, and Alphabet (Google). This has increased investor confidence and put Bitcoin in the spotlight.

The institutional accumulation is on the rise. There are new buyers from large investors, even though unrealized profits are high. This trend looks back to other bull markets, when big uptrends were mainly pushed by institutions.

The rally will probably extend given that bitcoin holds above the current price of $120,000. The next objective is the next big gap at the level of $125,000-$130,000. The market will be waiting to see whether Bitcoin can keep gaining or will it be a short correction before another rise.