Bitcoin Hits Fresh Record High Of $1,22,000 As Bull Run Continues
Bitcoin has jumped nearly 90% in the last 12 months and 26% in the past six.
Bitcoin achieved another milestone of $1,22,000 on Monday. The cryptocurrency jumped 2.7% intraday as of 11:20 a.m. India time, as per Bloomberg data. In terms of the Indian rupee, this translates to Rs 1.05 crore per Bitcoin.
Institutional demand remains a major driver for the rally in Bitcoin, with US Bitcoin ETFs surpassing $50 billion in net inflows to date. The original crypto has jumped nearly 90% in the last 12 months, 29% year-to-date and 26% in the past six.
"Optimism is also fueled by the Trump administration’s pro-crypto stance pushing for a Strategic Bitcoin Reserve and easing ETF approval norms," said Himanshu Maradiya, founder and chairman of cryptocurrency and blockchain platform CIFDAQ.
He said macroeconomic shifts like a weaker dollar, rising US treasury demand, and sovereign credit downgrades are further positioning BTC as a hedge.
"With regulatory clarity improving and Coinbase entering the S&P 500, Bitcoin’s case as a mainstream asset has never looked stronger," he added.
Helping to fuel the latest rally was the liquidation of bearish crypto bets at the end of the week, as per Bloomberg News. Traders who shorted Bitcoin bore the brunt of the rapid damage, with over $1 billion in positions wiped out, according to data from Coinglass, the news agency reported.
Bitcoin’s renewed momentum has also spilled over to smaller tokens — second-ranked Ether rose 1.5%, while XRP and Solana both increased about 2.7% around noon in Singapore on Monday.
Bitcoin's Next Feat
According Vikram Subburaj, chief executive officer of Giottus Crypto Platform, bitcoin is witnessing a sharp uptick in long-term wallet accumulation and investors are turning from speculative trading to strategic positioning.
He said $1,35,000 may act as the next key resistance based on technical charts.
"If macro liquidity remains supportive and ETF inflows persist, we expect this growth phase to stretch to $150,000 and beyond. It is sure that volatility will remain with sharp corrections along the way. But the broader direction is unmistakably upward," Subburaj said.
