$BTC

Bitcoin Hits $120K as Bulls Sprint to New Heights

The rise of Bitcoin continues unbeated, the price now knocking on the door of $118,000 after a good 3.6% gain in merely 24 hours. Traders are already eyeing the next huge psychological mark—$120K—and the sentiment in the market is like a train building up speed to reach its next stop.

Trailing the move is a powerful combination of optimism, institutionally driven fresh money, and a supply squeeze fueled by long-term players locking up their holdings. "Buying the dip" is still the go-to move, and whales seem in no rush to offload.

Reaching $120K would be more than symbolic—it might flip a mental switch for retail and large desks. Round numbers attract prices, but they also tend to stimulate rapid profit-taking, so look for volatility at that level.

Technicals are still bullish: Bitcoin holding well above important averages, RSI is high but not overbought, and heavy volume above $118K may open the door to $125K. Momentum is currently with the bulls for now—keep in mind, though, that in crypto, even express trains can get sudden speed bumps.