BTC Hits $107k and Could Rally to a New All-time High

TL;DR

• Bitcoin is up 1.2% in the last 24 hours and now trades above $107k.

• The leading cryptocurrency could rally to a new all-time high if the market continues with its recent momentum.

BTC Eyes a New All-time High

The cryptocurrency market has continued its positive start to the week, with Bitcoin and major altcoins rallying. Bitcoin, the leading cryptocurrency by market cap, added more than 1% to its value and now trades above $107k.

At press time, Bitcoin is trading at $107,400 and could rally to a new all-time high if the market momentum continues. Ruslan Lienkha, chief of markets at YouHolder, told Cryptowisser that the current price action appears to be a consolidation phase, marked by accumulation, potentially setting the stage for another leg higher that could lead to a new all-time high.

Lienkha added that while the risk of a downside correction cannot be ruled out, particularly if negative sentiment returns to the equity markets, the likelihood of such a scenario remains relatively low in the short to medium term. Overall, Bitcoin is positioning itself for another upward move soon.

“Bitcoin ETF inflows remain strong. I would view the $90K–$110K range as a key consolidation zone, given that Bitcoin has spent significant time within this range since November. This suggests a high concentration of trading activity and order volume, which could reinforce the area as a strong support level. If this dynamic continues, Bitcoin will likely remain anchored in this range, even following the renewal of all-time highs, as it serves as a psychologically and technically important price corridor,” Lienkha added.

Altcoins in the Green

With Bitcoin currently approaching a new all-time high, altcoins are also rallying higher. Ether, the second-largest cryptocurrency by market cap, is trading close to $2,600 and could surge higher amid growing institutional demand.

Lienkha stated that,

“As the second-largest cryptocurrency by market capitalization, Ethereum naturally draws institutional interest, particularly when its growth potential appears strong. The recent rise in CME ETH futures open interest suggests renewed institutional appetite, likely driven by Ethereum's recovery from multi-month lows and the positive momentum following recent network upgrades. This uptick in positioning reflects growing confidence in ETH's medium- to long-term prospects, especially in a favorable macro environment that supports risk assets.”

Dogecoin (DOGE) and Cardano (ADA) are the best performers among the top 10 cryptocurrencies, adding 2.5% to their values each. Thanks to the ongoing rally, the cryptocurrency market cap has climbed to $3.4 trillion.