Bitcoin (BTC) Price Hits New All-Time High Above $109,800, Surpassing Its Previous Peak

Bitcoin (BTC) has reached a new all-time high, trading above $109,800 on Wednesday, surpassing its previous peak from January.

Bitcoin (BTC) has hit a new all-time high, trading above $109,800 on Wednesday, breaking above its previous peak reached in January.

The cryptocurrency surged following increasing optimism surrounding potential cryptocurrency legislation in the United States, including President Donald Trump’s pro-crypto policies and Texas’s strategic Bitcoin reserve bill.

Texas Advanced Strategic Bitcoin Reserve Bill

On Wednesday, the Texas House passed Senate Bill 21, establishing a state-level Strategic Bitcoin Reserve. The bill grants the state comptroller the authority to invest in cryptocurrencies with a market capitalization above $500 billion over the past 12 months—currently, only Bitcoin meets this criteria.

This development positions Texas as the third U.S. state to adopt Bitcoin as part of its state investment strategy, following Arizona and New Hampshire.

Analysts Predict Bitcoin’s Next Move

As Bitcoin trades comfortably above $109,000, analysts are making bold predictions for the next move in Bitcoin price and what to expect next.

With bullish technical momentum, political tailwinds, and increasing institutional confidence, most analysts believe the next leg up may occur more rapidly than many anticipate.

However, investors should exercise caution, as volatility tends to escalate at record highs. Abrupt price declines remain a possibility, particularly if there are unexpected shifts in macroeconomic conditions or regulatory news.

Despite this, with states like Texas fully embracing Bitcoin and Trump making a strong push for digital assets, the long-term narrative for Bitcoin appears to be growing even stronger.