Update: Shortly after publishing this article, Bitcoin pushed above $116,500 and Ethereum surged above $2950.
Bitcoin has reached a new all-time high today, surpassing $113,800 at its peak according to Coinmarketcap. At the time of writing, it remains above $113,000, which is significantly higher than its previous record of around $111,800. On some exchanges yesterday, Bitcoin briefly touched $112,000, but today’s move marks a clear new record.
Market speculation is now focused on whether Bitcoin can reach the next psychological level of $115,000. According to Polymarket data, there is an 82% chance of Bitcoin surpassing this level within July. The probability of reaching $120,000 this month has also increased, currently standing at 43%.
It’s worth noting that compared to January, when Bitcoin briefly touched $109,000, the US dollar has declined in value against other currencies by over 10%. However, over the past few days the dollar has remained relatively stable, suggesting that the recent surge is driven by Bitcoin’s market strength rather than currency effects. Over the past year, Bitcoin has gained approximately 97%.
Ethereum Sees Strong Recovery
Ethereum has also recorded gains over the past week, rising nearly 9% to surpass $2,800. This price brings it back to levels seen in early February, and reclaims its local peak from early June. The recovery is significant considering that in April Ethereum briefly fell below $1,500.
Read also: Fusaka Upgrade: What’s Next for Ethereum After Pectra?
Major Coins in Green
Most major coins are trading in positive territory today. XRP has gained 10% over the week, Solana is up 5%, DOGE has increased by 8%, and Cardano is up 9%. Hyperliquid has also risen above $42 again, remaining close to its recent all-time high. Tron (TRX) briefly surpassed Dogecoin in market cap earlier today and currently sits just slightly behind.
Among the strongest gainers is PENGU, which surged nearly 30% following the SEC acknowledgment of its Pengu ETF filing. Story (IP), Sui, and XDC Network have also recorded double-digit gains today.
Overall Market Context
Today’s market shows continued positive momentum, driven by Bitcoin’s new record and strong performances across multiple top coins. With high probabilities assigned to Bitcoin reaching further psychological targets in the coming weeks, investors will be watching whether the market will maintain this upward trend through July.
