Bitcoin Misses All-Time High but Is Still Bullish
Quick overview
- Bitcoin approached a new record high of $110,364 but fell short, remaining bullish with potential for future gains.
- Despite recent market challenges, Bitcoin has only slightly declined, currently sitting at $108,123, which is still a strong position for the year.
- Investors are optimistic about Bitcoin reaching $112 in the coming week, despite potential market impacts from increased tariffs.
- Market predictions suggest Bitcoin could hit $125,000 by the end of December, supported by a generally bullish cryptocurrency market.
Live BTC/USD Chart
Last week, Bitcoin (BTC) toyed with a new record high, falling short at $110,364 (BTC/USD), but the coin remains elevated and bullish with the potential to set a new high soon.
It looked like Bitcoin would set a new record in June, but it did not quite make it due to sticky inflation and a muted employment report. Bitcoin was also held back by an underperforming cryptocurrency market with BTC being one of the few high performing tokens last week.
BTC/USDBitcoin may still be able to set that record in the near future, though, with all signs pointing to a bullish coin. How can Bitcoin still achieve a record high when it is down right now? The good news is that this token has only fallen slightly as the stock market has dipped at the start of the week. Bitcoin has lost very little ground and is only down 0.84% for the last 24 hours. For the last week of trading, however, Bitcoin is up by 0.80%.
What We Expect from Bitcoin This Week
The numbers point to a Bitcoin trend that is bullish and a value that will likely stay elevated. What we have seen from Bitcoin over the few weeks is that even when the price falls, the value of the coin remains high. The token has retreated to $108,123 for now, which is still higher than Bitcoin has been for most of the year. This is why we suspect it will set a new record soon.
Investors should anticipate a climb to $112 in the next week, even with uncertainty over tariffs. President Donald Trump is sending out letters to many countries this week, letting them know that they will be hit with higher tariffs soon. This will impact the markets, but Bitcoin may be strong enough to remain bullish anyhow.
Some indicators show that Bitcoin is likely to reach $125K by the end of December, specifically on the Kalshi market prediction website. A number of major crypto tokens are elevated right now, with Ethereum (ETH) up nearly 3% over the last week. Tron (TRX) is up 3.35% as well for the same period, and Cardano (ADA) is up 3.37%. This somewhat bullish market could help propel Bitcoin higher very soon.
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