VISI.NEWS | CRYPTO – Bitcoin has once again broken through previous price records, setting new all-time highs in succession. As of writing, the leading cryptocurrency has reached US$ 121,487, according to CoinGecko—marking a 3% increase in the past 24 hours and an 11.8% rise over the past week.
This surge comes amid growing optimism in the market, largely driven by a wave of institutional interest. Corporations are increasingly turning to Bitcoin as a strategic reserve asset on their balance sheets.
Bitcoin has maintained upward momentum throughout today’s trading session. Starting at around US$ 118,000 in the early morning, the price rose to US$119,110, and later broke the US$ 120,000 barrier. It even briefly reached US$ 122,838, highlighting the market’s strong appetite for the asset.
According to Fyqieh Fachrur, an analyst at Tokocrypto, the rally is being propelled by robust institutional buying—especially from BlackRock’s spot Bitcoin ETF, IBIT. The fund now manages over 700,000 BTC, with assets under management totaling US$ 83 billion. This makes it the fastest-growing ETF in history and demonstrates serious institutional commitment to Bitcoin.
“High institutional demand indirectly absorbs market supply, creating a scarcity dynamic that strengthens buying pressure,” Fyqieh said.
On-chain fundamentals also remain healthy. The Long-Term Holder Net Unrealized Profit/Loss (NUPL) is currently at 0.69, below the 0.75 level typically associated with market euphoria—indicating that most long-term investors are not yet selling.
In addition, the number of accumulation wallets—those steadily increasing their BTC holdings—has surged, now holding over 250,000 BTC, the highest level since early 2024. Network activity continues to grow with no signs of panic selling, reflecting a market that’s optimistic but grounded.
Technically, the breakout above US$ 118,000 confirms a continuing bullish trend. Fyqieh notes that the next resistance levels lie between US$125,000 and US$ 132,500, based on Fibonacci extension levels.
Regulatory sentiment is also supportive, with three major bills—CLARITY, GENIUS, and anti-CBDC—slated for discussion in the U.S., potentially bringing greater legal clarity for the crypto industry. Meanwhile, markets are watching for upcoming inflation data (CPI and PPI), which will influence the Fed’s monetary policy outlook.
Fyqieh added that from a medium- to long-term perspective, the market shows no clear signs of overheating. Most indicators suggest more room for growth.
“For those already holding BTC, the best strategy right now is to hold. For those not yet in the market, gradual purchases or dollar-cost averaging (DCA) could be a wise approach,” he advised.
“Short-term traders who’ve made solid gains might consider taking partial profits, but exiting completely could mean missing further upside.” @ffr
