The $118,856 Bitcoin ATH: How One Explosive Event Ignited the Rally
Bitcoin didn’t just break records—it vaporized them. Here’s the catalyst Wall Street didn’t see coming.
### The Tinderbox Moment
A single trigger sent BTC’s price rocketing past its previous ceiling. No slow grind—just a vertical assault on the $118,856 peak. Traders scrambling, shorts liquidated, champagne corks popping in El Salvador.
### Behind the Numbers
The rally defied ‘smart money’ predictions (again). Hedge funds missed it. Banks downgraded crypto that morning. Classic.
### What’s Next?
Volatility? Obviously. New institutional FOMO? Already brewing. Another 20% drop before lunch? Wouldn’t rule it out—this is crypto, not your grandma’s bonds.
Bitcoin’s recent price surge has kept the cryptocurrency market abuzz, with key players speculating on the driving forces behind the asset’s ascent to $118,856.
Bringing clarity to the forefront of the discussion, crypto analyst Burakkesmeci revealed that Bitcoin’s recent climb to a new all-time high can be traced to the notable increase in demand from strong U.S. buyers.
Bitcoin replaced its previous high of $111,970 attained on May 22. The new development marks a 5.95% increase in price value sustained within the past week, and a 20% surge since January 2025.
The new development suggests renewed Optimism among key market players and further hints at a possible continuation of the bullish uptrend.
Shedding light on the ongoing trend and the market players behind it, analyst Burakkesmeci observed a 42-point increase in Coinbase’s premium gap, recorded amidst Bitcoin’s rise to the newly attained levels.
As the analyst further explained, the surge in Coinbase’s premium gap indicates a rise in demand for the asset, as buyers on the exchange paid $42 more BTC than buyers on the Binance exchange. The move illustrates heightened demand from U.S.-based Bitcoin investors, the analyst added.
It is worth noting that in the previous week, the gap recorded between traders on Coinbase and Binance was even higher. As the analyst is quoted saying; “…this isn’t even the weekly high. Last week, the gap peaked at $87.76, signaling even stronger buying pressure.”
The Coinbase premium gap is a metric used to gauge the interest level of U.S. investors. As such, a positive premium indicates a growth in institutional or retail interest in Bitcoin.
Interestingly, as the analyst asserts, despite Bitcoin’s run to a new all-time high, demand is yet to plummet and has since remained strong—a development that hints that the bulls might still be gearing up for another upward rally.
