#BTCBreaksATH

Bitcoin could head towards $150,000 after reaching a new all-time high of $112,000 on Wednesday, according to a Bitcoin bull.

"See you at $150,000," said Milk Road co-founder Kyle Reidhead in a post on X on Wednesday, referencing a previous post from late June that showed a bullish "cup and handle" formation that, according to him, would drive Bitcoin to $150,000.

The optimism follows two weeks of strong consolidation, which made many analysts concerned that Bitcoin did not have the strength to surpass its previous all-time high.