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The Bitcoin price rose above $111,000 last night. This development has already triggered euphoria in the crypto market. Green numbers can be seen everywhere. Despite the positive sentiment, BTC has not yet managed to surpass its existing all-time high from May. The breakout of the bull market could follow in the very near future.
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Bitcoin Price Rises above $111,000: Market Reacts Bullish
The Bitcoin price broke out above its previous price of around $108,000 last night and has since risen above $111,000. In the daily trend, the largest cryptocurrency is posting profits of 1.90 percent by the editorial deadline.
- Bitcoin
(BTC) - Price $122,768.00
- Market Cap
$2.44 T
Around 10:00 p.m. Swiss time yesterday, BTC reached its regional high of $111,907 – not far from the existing all-time high, which was already set in May. Bitcoin’s ATH is still at $111,970. Only 0.06 percent was missing to reach a new record value.
The fact that Bitcoin managed to get so close to its all-time high has since triggered noticeable euphoria in the crypto market. Currently, green numbers dominate the 100 largest cryptocurrencies very clearly. At the editorial deadline, only five of them are posting slight losses in the daily trend.
The list of profitable cryptos is currently all the longer. The charts are once again led by memecoins in the daily trend. Pudgy Penguins (PENGU) leads the list with a 34 percent price gain. Dogwifhat (WIF) follows in second place with a 12.70 percent increase in value. The AI project Virtuals Protocol (VIRTUAL) reaches third place with a 10.34 percent price gain.
The entire crypto market managed to grow by 2.63 percent to a total value of 3.46 trillion US dollars over the last 24 hours.
Crypto Market Succumbs to Greed: Bull Market Inevitable?
According to the Crypto Fear & Greed Index from Alternative.me, the sentiment in the crypto market has risen significantly since yesterday. In the meantime, the sentiment is rated with 71 out of 100 points – yesterday it was still rated with 66 points.
Accordingly, the bullish sentiment is constantly increasing. Such high euphoria paired with the already high Bitcoin price could soon culminate in a price rally. Many experts have been predicting a bull market in the second half of 2025 since spring.
If you believe the experts, Bitcoin could multiply its current market value in the coming months. Arthur Hayes expects a Bitcoin price of $250,000 by the end of the year.
After BTC sets a new high, correction and bottoming usually follow. Only then does the altcoin season follow. Hayes expects the same process over the next few months. The altcoin season, he prophesies, will continue until 2026.
