Bitcoin Hits a New All-Time-High: What is Next?

Benjamin Cowen

Bitcoin Update and Market Analysis

Bitcoin has put in a new all-time high for the first time in 2025, but the breakout has been lackluster, with the market seeming to wait for news on a strategic Bitcoin Reserve.

Key Points

  • Bitcoin's new all-time high has been relatively lackluster, with the market waiting for a catalyst to move higher.
  • The market is comparing the current situation to last year, when Bitcoin put in higher highs and swept the low before rallying to a new high.
  • The 10-year yield is also being watched, as it was rallying during a similar period in 2023, but has recently stopped rallying.
  • Two main scenarios are being considered:
    1. Bitcoin breaking out to a higher high structure, potentially around $120.
    2. Bitcoin struggling to stay above $110 and potentially revisiting the range lows.

Market Comparisons

  • The QQQQ is being compared to Bitcoin, with similarities in their price movements after launching.
  • The S&P 500 is also being watched, as its performance can affect the overall market cycle.

Economic Factors

  • Inflation and unemployment rates are being monitored, as they can impact the market cycle.
  • A soft landing, where the unemployment rate doesn't rise significantly and inflation is controlled, is hoped for.

Conclusion

  • Bitcoin's price is currently above $100k, which gives weight to the higher high structure scenario.
  • However, if Bitcoin falls below $100k, the scenario of revisiting the range lows becomes more likely.