Bitcoin Surges Across Global Markets, Eyes New Heights
By: Eva Baxter
Bitcoin has achieved new all-time highs in several global markets, showcasing its robust performance as the leading cryptocurrency. Recent data revealed that Bitcoin surged past $122,000, although it remains slightly below its peak from July 2025, which was $123,000. The cryptocurrency saw a notable rise of over 3% in the past day, topping at $122,321. However, it slightly retracted to $120,749 at the time of reporting.
This impressive growth has not gone unnoticed in various global economies. CoinMarketCap data has highlighted that Bitcoin has not only crossed the £90,000 benchmark in the UK but also hit unprecedented heights in countries like Canada, Japan, India, Argentina, Nigeria, and Pakistan. According to Vincent Liu, the Chief Investment Officer of Kronos Research, this development mirrors a strengthening of global liquidity and the momentum transcending beyond dominant currencies like the dollar. Liu emphasized, "Bitcoin is already hitting new peaks in pounds, pesos, and other fiats, reflecting a shift in currency dominance and strong market momentum."
Amidst Bitcoin's record-breaking performance in multiple markets, analysts remain optimistic about its USD performance. Bitcoin analyst Praevisio forecasted a 90% chance of Bitcoin breaching $131,000 soon, bolstered by the recent uptrend that swept liquidity and established new demand zones. This bullish sentiment is counterbalanced by Bitunix exchange analysts who highlighted macroeconomic concerns like the upcoming Consumer Price Index release and Moody's recession forecast as potential influences on Bitcoin’s price trajectory. Despite these challenges, if Bitcoin maintains its current volume and closes above $120,000, it could aim for a target within the $124,000 to $127,000 range. Otherwise, a failure to hold the current support might lead to a retreat to a range between $116,000 to $114,000.
As traders keenly await the upcoming inflation data, speculative positioning remains a key driver of Bitcoin's momentum. While the crypto community largely anticipates continued bullish growth, the impact of macroeconomic factors cannot be ignored. The resilience shown by Bitcoin as it continues to hit new milestones across different currencies underscores its significant role in the evolving global financial landscape.
