Bitcoin has shattered another all-time high, surging past $113,000 in a parabolic rally that has left traders scrambling to adjust their price targets.
At the time of writing, the crypto is trading above $113,400.
The explosive move comes after President Trump declared on Truth Social that crypto is going “through the roof,” triggering massive buying pressure across digital asset markets.
Trump’s social media post highlighted record highs across tech stocks, industrial stocks, and the NASDAQ, while specifically calling out cryptocurrency’s stellar performance.
The president emphasized that NVIDIA has gained 47% since Trump tariffs were announced, while urging the Federal Reserve to “rapidly lower rates” to reflect the economy’s strength.
The timing of Trump’s crypto endorsement has created perfect storm conditions for Bitcoin’s latest surge.
With the president stating “USA SHOULD BE AT THE ‘TOP OF THE LIST’” and declaring “NO INFLATION,” institutional investors are interpreting this as a clear signal for continued monetary accommodation and risk asset appreciation.
Technical analysts are now eyeing the $120,000 level as the next major psychological target, with some suggesting the milestone could be reached within 24 hours given the current momentum.
The parabolic nature of the current rally mirrors previous Bitcoin supercycles, where rapid price discovery phases have led to swift moves toward round-number targets.
Polymarket traders are pricing in accelerated timeline expectations, suggesting the crypto market’s momentum could carry Bitcoin to six-figure ($120,000) milestones faster than previously anticipated.
BREAKING: Bitcoin now projected to surpass $120,000 this month.
— Polymarket (@Polymarket) July 10, 2025
Market participants are closely watching for any signs of exhaustion around current levels.
However, the combination of presidential endorsement and record-breaking traditional market performance continues to fuel bullish sentiment across the crypto market.
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