Bitcoin hits $111,750 record as seven-week momentum run continues

Bitcoin price has broken into uncharted territory this Thursday, touching a new all-time high at $111,750 during the early hours of European trading. 

This move not only confirms a powerful upside continuation but also extends the cryptocurrency’s impressive second-quarter recovery after a difficult start to the year.

• Bitcoin extends weekly winning streak into record high.
• Sustained inflows and volume support trend continuation.
• $115,000 and $120,000 emerge as key near-term upside targets.

Back in the first quarter of 2025, Bitcoin dropped steadily from its January peak of $109,340 to a low near $74,500 in April. The drawdown was triggered by investor uncertainty over tightening liquidity and a slowdown in spot ETF inflows. However, the narrative shifted dramatically in the second quarter, as institutional and retail inflows picked up pace. The rebound was not only sharp but also persistent—Bitcoin has now recorded six consecutive bullish weekly closes and is on track to complete a seventh.

BTC price dynamics (Dec 2025 - May 2025). Source: TradingView

The breakout above January’s high was confirmed on Wednesday during the North American session, backed by a strong surge in volume. This technical breakout has now converted the previous resistance zone at $109,300 into a key short-term support. That level also aligns closely with the 20-period EMA on the 4-hour chart, reinforcing its role as the first line of defense in the event of a pullback.

Bitcoin RSI overbought, but breakout volume supports further upside

Momentum indicators show that Bitcoin’s RSI has been in overbought territory for several days. However, price action has defied the signal, extending gains above major resistance levels. The persistence of bullish demand suggests strong underlying buying pressure, possibly driven by anticipation of renewed institutional allocation and reduced selling from long-term holders.

At current market levels near $110,600, Bitcoin is up nearly 4% for the week, 18% month to date, and 19% since the start of the year. The short-term focus has now shifted to potential upside targets at $115,000 and $120,000, levels that would mark new psychological milestones if broken.

While profit-taking near current highs cannot be ruled out, technical structure and sustained volume suggest that the broader bullish trend is still intact. As long as Bitcoin holds above the $109300 support zone, traders are likely to interpret shallow dips as opportunities for re-entry rather than signs of trend exhaustion.

Bitcoin price inches toward record high as open interest climbs to $72B. Bitcoin is less than 2% away from its January all-time high of $109,300.