Shunyet, head of derivatives at Bybit, talks about Bitcoin's new high: $125,000 expected by the second quarter

Shunyet Jan, the head of derivatives at Bybit, the second largest cryptocurrency exchange by global trading volume, shared his unique insights on Bitcoin reaching a historic high. Shunyet pointed out that this historic rise is the result of multiple market catalysts and macroeconomic changes. He predicts that as long as the current trend continues, Bitcoin still has room for further increases. He said: "Bitcoin's historic high marks a significant shift in the global financial landscape." Shunyet noted that the rise in Bitcoin is primarily driven by the following three factors: 1. Clarity in stablecoin regulation: "A series of comprehensive legislation, including the GENIUS Act, has established a clearer regulatory framework for stablecoins. This has enhanced institutional confidence and laid the groundwork for the widespread application of cryptocurrencies." 2. Continuous inflow into spot Bitcoin ETFs: "The ongoing capital inflow into Bitcoin spot ETFs indicates that institutional investors are viewing Bitcoin as a mainstream asset class. These products provide a regulated investment entry point, releasing new sources of liquidity and long-term demand." 3. Weakening dollar and inverse correlation: "As a global asset, Bitcoin is particularly sensitive to macro trends. With the dollar weakening, Bitcoin is benefiting from its role as 'digital gold' for value storage, further solidifying its status." Despite Bitcoin leading this market cycle, Shunyet maintains a cautiously optimistic view of the overall crypto market: "Ethereum and other larger market-cap cryptocurrencies are likely to benefit from Bitcoin's momentum," he added: "But the current high interest rate environment and ongoing macro uncertainties may limit the upside potential for smaller altcoins in the short term." Looking to the future, Shunyet boldly predicts: "If the current trend persists, our analysis shows that Bitcoin is expected to reach $125,000 by the end of the second quarter. We remain confident in Bitcoin's core role in the future financial system." Bybit will continue to provide a trustworthy, high-performance trading platform for retail and institutional users, helping them enjoy advanced trading tools and deep liquidity markets.