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Bitcoin has reached a new all-time high, soaring beyond $113,000 in a rapid rally that has prompted traders to revise their price expectations.
Source: Cryptonews
As of this writing, the cryptocurrency is trading above $113,400.
This dramatic movement follows President Trump’s statement on Truth Social that crypto is going “through the roof,” resulting in significant buying activity across digital asset markets.
Trump’s post on social media pointed out record highs in technology stocks, industrial stocks, and the NASDAQ, while specifically acknowledging the impressive performance of cryptocurrencies.
Source: Ash Crypto on X
The president noted that NVIDIA has increased by 47% since the announcement of Trump tariffs, while calling on the Federal Reserve to “rapidly lower rates” to align with the economy’s strength.
The timing of Trump’s endorsement of crypto has created ideal conditions for Bitcoin’s recent surge.
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With the president asserting “USA SHOULD BE AT THE ‘TOP OF THE LIST’” and stating “NO INFLATION,” institutional investors are viewing this as a strong indication for ongoing monetary support and appreciation of risk assets.
Technical analysts are now focusing on the $120,000 mark as the next significant psychological target, with some indicating that this milestone could be achieved within 24 hours given the current momentum.
The parabolic nature of the ongoing rally resembles previous Bitcoin supercycles, where rapid price discovery phases have resulted in swift movements toward round-number targets.
Polymarket traders are reflecting accelerated timeline expectations, indicating that the momentum in the crypto market could propel Bitcoin to six-figure ($120,000) milestones sooner than previously expected.
BREAKING: Bitcoin now projected to surpass $120,000 this month.
— Polymarket (@Polymarket) July 10, 2025
Market participants are attentively monitoring for any indications of fatigue at current levels.
Nonetheless, the combination of presidential endorsement and record-setting performance in traditional markets continues to enhance bullish sentiment throughout the crypto market.
The post Bitcoin Price Prediction as BTC Surges Past Record Levels – $120,000 by Tomorrow? appeared first on Cryptonews.
