Bitcoin Above 110k - A New Record Price!
With a new all-time high, Bitcoin is set to break more records this year.
The market should be euphoric, yet it is strangely quiet.
What is going on?
Bitcoin is above 110k and has officially entered price discovery! This should not be a surprise if you read my previous alpha post.
New price records are very likely in 2025! Let’s explore how high Bitcoin can go after I give my insights into the current market sentiment.
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Last Saturday, I asked my X followers a simple question: “Do you hold any Bitcoin?”.
42% of below respondents said no and 58% said yes.
With a sample of 570 votes I think this is quite revealing.
I always stress that Bitcoin is the end game on my feed and these answers may be skewed in Bitcoin’s favor. With a larger and wider audience, I think the share of no answers would be much higher. Why is this important?
Because it shows that at least half of crypto users totally ignore Bitcoin, the only cryptocurrency that has consistently made higher highs over the course of 16 years. This is a huge oversight by retail.
A quick google trends search proves it. While Bitcoin is in six digits breaking records, nobody talks about it! Odd right?
In the past, the market was euphoric at this point, yet interest in Bitcoin according to Google is at an all time low. What’s going on here?
Retail has been outpriced by Bitcoin.
At over $100,000 a coin, retail simply ignores it because it is too expensive. It’s not attractive at such prices. Instead of buying 0.009 BTC, they buy one full Ethereum or other altcoins.
They do this while ignoring the fundamentals of Bitcoin, which are and will be superior to any altcoin. In addition, the altcoin market crashed since the start of 2025 until about April.
Some altcoins like ETH crashed 60%, meme tokens crashed by over 90%. In this period, most retail bags were destroyed. Since they do not hold any Bitcoin, there is little to celebrate today because they just suffered a huge loss not long ago.
This explain the current mood or “silence”.
However, I have an even more interesting point to show. Most recently, Bitcoin and MicroStrategy have been diverging. While Bitcoin moons, MSTR shares crashed. Odd right?
While Bitcoin made a new record price, MSTR is still over 30% away from its all-time high as of today. It may well be that Saylor printed too many shares from thin air in the past few months to buy more Bitcoin.
That only works as long as his MSTR premium stays positive (i.e. share price > BTC per share). Yet, this recent price action shows this premium is being eroded. I covered that in my recent post on Strategy extensively. This is just another red flag.
Those holding MSTR are noticing and some already sold their shares for Bitcoin ETF positions since they track BTC’s price much better. While Saylor holds a huge BTC bag, MSTR is still a derivative of Bitcoin with plenty of risks, like prices going in opposite ways.
At the end of the day, MSTR is just another altcoin long term, treat it accordingly.
How high can Bitcoin go in 2025?
I expect an exciting summer for the broad crypto market. The rationale for that was covered already in my post from early May titled “Do you want to make money?”.
The macro is extremely bullish for Bitcoin and also for altcoins with Ethereum and Solana posed to pull higher the whole altcoin market. If we are to focus on BTC, we can clearly see that its uptrend is intact and making higher highs.
On top of that, we’re now in price discovery mode again. That means the price has arrived at levels never seen before. Buyers and sellers will have to “guess” where the top is for this rally.
That guessing game will be hard and prone to mistakes. That’s why Bitcoin can pump 10k in a day going forward as it tries to find the next top. If I were to guess the top, the landing zone between 150k to 200k is a prime area for a Bitcoin top.
Higher than that would mean something is broken in traditional markets that pushes money to Bitcoin. We will have to wait and see, but between June and August, I think Bitcoin will rally hard.
If this uptrend holds beyond that, we could find ourselves in December to new highs and a blow-off top. If you are trading this move, best to take gradual profits above 150k until a top is made or even earlier, just monitor the strength of this momentum.
Altcoins in 2025
As for altcoins, this summer will be a good period for them. Bitcoin will pull us up and then major altcoins will follow pulling everyone else. But altcoins won’t be able to sustain an uptrend like Bitcoin.
Some alts will pump faster than others. Sell them if they do so even before BTC tops. Take as much profit as you can on alts because once BTC tops, it’s the end of this cycle.
If you find yourself surrounded by euphoria (not like today), know it is a prime period to sell. That could start at any point after the total market cap of altcoins without BTC and ETH goes over $1 trillion (see the chart above).
Regardless if you hold Bitcoin, altcoins or both, the period ahead promises good profits. These kind of moments don’t come often in a year. Make the best of it and be serious about it by subscribing to our Patrons group to follow my alpha closely!
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How high will BTC go in 2025?
When the bear market for Bitcoin finally hits, how far do you expect Bitcoin to crash? I am asking as a retailer who has been priced out of buying Bitcoin.