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The Bitcoin BTC currency continues to rise alongside the collapse of the US dollar, which increases speculation about the possibility of a wide-ranging financial shift.
Where the price of Bitcoin rose to $125,512, recording the highest historical level. Its market value also rose to about $2.5 trillion, while gold prices approached $3,880 an ounce, which is the highest recorded level ever.
On the other hand, reports indicate that the DXY dollar index has dropped by more than 10% this year, marking its largest annual decline since 1973.
This decline coincided with rising asset prices across multiple categories (from stocks to commodities to cryptocurrencies), with investors preferring to move away from cash and towards rare inflation-resistant assets.
Bitcoin and gold are taking the spotlight amid dollar weakness.
The S&P 500 index rose by 40% over six months, while gold achieved four times the index's returns, with Bitcoin taking center stage. The correlation between gold and stocks reached an unprecedented level of 0.91 in 2024, indicating a shift towards a new monetary system.
It is worth noting that the dollar's weakness is increasing due to several economic pressures, such as a slowdown in the labor market, interest rate cuts from the Federal Reserve, and growing fiscal deficits, conditions that have previously benefited assets like gold and Bitcoin.
Where the dollar has lost about 40% of its purchasing power since 2000, prompting investors to turn to real assets (from gold to Bitcoin to stocks).
Institutional demand for Bitcoin has also surged amid this capital shift, as ETF fund flows remain strong. Data on the network shows that wallets holding more than 1,000 BTC have reached their highest level since 2022.
Bitcoin price forecast: target between 130 and 160 thousand dollars.
The upward trend of Bitcoin continues technically, as the currency is currently trading around 125,512 dollars, supported by the 50-day simple moving average at 118,380 dollars and the 100-day average at 115,541 dollars.
The chart shows a bearish harmonic butterfly pattern, which may limit short-term gains around the 128–130 thousand dollar range. However, the structure of higher lows and the bullish engulfing candle suggest that momentum remains strong.
The RSI (Relative Strength Index) at around 69 indicates a slightly overbought condition. However, this is normal in extended upward waves, and if Bitcoin maintains support above 121 thousand dollars, it may retest the 128–130 thousand dollar range soon.
Any clear break above this level could open the way towards 160 thousand dollars, while failure to stay above 118,500 dollars may lead to a short-term correction.
Finally, we note that this shift, which was previously theoretical, has now become apparent across all major charts. The question is no longer whether Bitcoin can sustain this rise, but whether the world is ready for what comes next.
