Bitcoin hits all-time high of $111,000 on historic 'Pizza Day'; eyes set on $120K level next

Bitcoin hits all-time high of $111,000 on historic 'Pizza Day'; eyes set on $120K level next

Play all audios:

Loading...

Bitcoin has surged past $111,000, reaching a historic all-time high, gaining over 48% from its recent lows, a significant milestone for the cryptocurrency market. The BTC rally, driven by


growing institutional demand, favourable regulatory developments, and increased retail participation, points to accelerating adoption fueled by spot ETF inflows, landmark legislation like


the GENIUS Act, and improving macro conditions.


Besides, BTC futures have also smashed a new all-time high (ATH), which represents the highest sale value, with over $74 billion, which is speculated to be driven by institutions and hedge


funds. On-chain data suggests over 123,000 traders were liquidated for $522 million in the past 24 hours. Considering yearly profits, Bitcoin has surpassed gold and the S&P 500, with over


53% gains, compared to 35% and 13%, becoming the 5th largest asset in the world after surpassing Amazon, with an m-cap of over $2.2 trillion.


The CryptoQuant data also shows a steady return of retail investors, with smaller wallets re-entering the market, bringing fresh liquidity and signalling broader market confidence.


The BTC rally also coincides with Bitcoin Pizza Day, celebrated today as a defining moment in crypto history. The day commemorates an event in 2010 when a person named Laszlo Hanyecz


famously exchanged 10,000 BTC for two pizzas worth $40. Over the years, as Bitcoin soared to new heights, Bitcoin Pizza Day has become a powerful symbol of just how far the digital currency


has come.


Ashish Singhal, Co-founder of CoinSwitch, says this isn’t just a milestone for the crypto market but a reflection of how the global perception of digital assets is fundamentally evolving.


"Over the past few days, Bitcoin has shown remarkable strength, holding steady around the $98K–$100K range, boosting confidence among both retail and institutional investors. This rally is


driven by more than just market momentum; it’s backed by consistent inflows into spot Bitcoin ETFs, improving macroeconomic clarity, regulatory support such as the recent introduction of the


Genius Act, and a growing recognition of Bitcoin’s credibility, even at the sovereign level."


Experts think this may have been the final window to buy BTC under $100K. "The rally reflects accelerating institutional conviction and a maturing crypto market, backed by major accumulation


from entities like Strategy, now holding 576,000+ BTC," says Himanshu Maradiya, Founder and Chairman of CIFDAQ. Amid the strong rally, institutional demand remains strong, with spot ETFs


seeing $2.2 billion in inflows over the past 10 sessions, says Edul Patel, Co-founder and CEO of Mudrex. "The approval of the Stablecoin Bill and easing trade restrictions have significantly


improved investor sentiment, helping BTC hit a new ATH just four months after the previous ATH in January."


The breakout above the key resistance levels of $104,000 and $108,000 now establishes solid support zones, thinks Pankaj Balani, CEO and Co-founder of Delta Exchange. "The push beyond the


ATH was strong and with good volume activity. As the momentum continues, we can see the BTC price move through the key resistance zone between $112,000 and $115,000."


The milestone is a sign that the global crypto market is maturing and shaping a strong foundation for the long term, says Raj Karkara, COO of ZebPay. He thinks the continued momentum will


bring renewed credibility and capital into the space, creating a ripple effect that benefits altcoins, blockchain innovations, and Web3 development. "It unlocks confidence, attracts more


infrastructure investment, and encourages regulatory stability. Bitcoin Pizza Day, celebrated today, marks a defining moment in crypto history. What began in 2010 as a quirky exchange of


10,000 BTC for two pizzas has become a powerful symbol of how far Bitcoin has come. In reaching this height, Bitcoin is not just elevating itself. It is lifting the entire ecosystem with it


and paving the way for a more mature, inclusive, and decentralised financial future.”


BTC volume increased by 100% in the past couple of days, which raised buying pressure to a larger extent. Besides, BTC supply on exchanges continues to diminish; that signals strong HODL


conviction and a potential supply squeeze ahead, says Sumit Gupta, Co-Founder of CoinDCX. "This also signals the token being in the early phases of the bull run."


Singhal of CoinSwitch believes that as several U.S. states move to integrate Bitcoin into their policy frameworks, a structural shift is happening, which will lead to long-term growth. He


says the next key level to watch is $120K. "With governments and institutions becoming active participants in the ecosystem, the foundation for long-term growth is stronger than ever. The


next key level to watch is $120K, and beyond that, Bitcoin’s role as digital gold will continue to solidify."


Singhal also believes that India stands at a unique crossroads in this transformation, with the chance to lead by enabling innovation, shaping forward-thinking policies, and building the


Web3 talent that will define the future.


Companies are also looking at crypto or Web3 solutions as a viable and cheaper solution to bring financial inclusion, with India uniquely positioned to play a transformative role. "With a


tech-savvy population, a vibrant startup ecosystem, and a growing appetite for digital innovation, India can harness this momentum to lead in blockchain adoption, digital payments


infrastructure, and crypto policy development," says Kushal Manupati, Regional Growth & Ops Lead at Binance.


Maradiya warns that while projections eye $120K by Q2 and even $200K by year-end, traders should stay "cautious as volatility often intensifies near ATHs". Balani thinks that amid the rally,


traders are going to be monitoring consolidation and support retests to assess the strength of the upward move here.