'Conditions are ripe' for new bitcoin all-time high

Bitcoin continues to trade steadily above $107,000, but bullish momentum leaves the foremost cryptocurrency poised for a breakout to a new record price above $112,000, according to analysts.

"Conditions are ripe for bitcoin to surpass its previous all time high," BTSE COO Jeff Mei said, citing easing inflation fears, a pause in the Iran-Israel conflict, and pressure on the Fed to cut rates.

BTC Markets Crypto Analyst Rachael Lucas said a fresh high is just a matter of time, with institutional accumulation, regulatory progress, and emerging use cases like bitcoin-backed mortgages also fueling tailwinds.

However, bitcoin's fear and greed index currently points to "greed," Kronos Research Chief Investment Officer Vincent Liu pointed out, arguing this indicates the bullish sentiment may be stretched.

Looming trade deal deadlines set by the Trump administration on July 8–9 could reintroduce tariffs and stir volatility, potentially also testing bitcoin's bullish grip.