Bitcoin crosses new all-time high; to touch $1,20,000

BENGALURU: With increasing institutional participation and pro-crypto stance by US President Donald Trump’s administration, Bitcoin has touched an all-time high of over $1,18,000 on Friday, and is nearing the $120k mark.

Experts are of the view that with Ethereum’s rise of over 5%, both these assets are fuelling optimism among users. On Friday evening, Bitcoin was trading at over $1,17,500.

Edul Patel, Co-founder and CEO of Mudrex said BTC marked a 101% yearly gain, outperforming most asset classes. The Fear & Greed Index now signals ‘greed,’ reflecting strong investor sentiment and sustained buying interest. Additionally, institutional participation remains a key driver, with $1.52 billion flowing into crypto funds over the last five trading days. Major altcoins like Ethereum and Solana also rallied up to 10%, supporting the broader market uptrend. If the current trend holds, Bitcoin could target $120,000, with immediate support seen at $111,500.

Record US equity performance, a sharp rise in money supply, and expansive fiscal policy, particularly the ‘One Big Beautiful Bill Act,’ are key drivers of this surge, said Ryan Lee, Chief Analyst at Bitget Research. “The Congressional Budget Office projects this legislation will add $3.3 trillion to the US deficit over the next decade, amplifying expectations of continued monetary expansion. Ethereum is also gaining strength, supported by sustained whale accumulation and renewed optimism under a crypto-friendly US administration. ETH could test $3,000 by the end of July, though market volatility remains a factor,” he added.