The bullish streak of cryptocurrencies extends to this Thursday, when the price of Bitcoin reached a new all-time high. It is a low-intensity rally that started several weeks ago and allowed BTC to touch $111,861 per token in the last hours. Enthusiasts hope the good momentum continues throughout the day.
According to data from CoinMarketCap, at the time of writing this note, the largest cryptocurrency remains above $111k. This suggests that buying pressure remains and that whales are not engaging in significant liquidations or profit-taking.
After surpassing the psychological barrier of $110,000, large wallets might consider $115,000 as the new barrier for profit-taking. This implies that over the next few hours, including the weekend, the reigning cryptocurrency could continue to venture into unknown territory.
In any case, Bitcoin reached this Thursday a milestone that for many was evident given the lack of obstacles in the short term. Although the community had higher expectations for the first half of 2025, the political and economic reality became a negative factor. Despite the selling pressure in April, conditions relaxed, clearing the way for investors.
The price of Bitcoin established a new ATH near $112k this Thursday.
Will Bitcoin's rally continue, or is a correction approaching?
A maxim of the financial world dictates that all assets that rise tend to fall with the same intensity. The latter is unpredictable, as it depends on subjective elements such as investors' perception. In that sense, if the market believes that a particular asset will not surpass a resistance level, then they liquidate.
This makes it practically impossible to determine an exact date for the correction of BTC's price. For example, this Wednesday it was almost immediate, and after surpassing the ATH from January, the coin plummeted to $106k. This time, investors might wait until $115k or $120k before taking profits.
Nevertheless, as mentioned above, the coin is in unknown territory. This means it is even more complicated to determine with certainty what the next steps will be. According to numerous experts, the current BTC rally is led by institutional wallets.
From the ETF sector to publicly traded companies, this week there would have been huge inflows into BTC. This is in addition to the constant purchases that have accumulated over the past months. Thus, if institutional investors are indeed driving the current bullish trend of BTC, it is reasonable to think that this increase could continue.
Apparently, the price of Bitcoin has no bearish obstacles in the immediate term. Any drop that occurs under these conditions will be very brief, as investors will continue buying while some whales practice limited profit-taking.
If the rally proves to be much deeper, there could be a situation where no whale wishes to liquidate or take profits in the short term.
