Bitcoin (BTC) price rose to new all-time highs on Wednesday, hitting $109,874

Bitcoin price rose to new all-time highs on Wednesday, hitting $109,874, before declining sharply to trade at $106,850

Bitcoin price rose to new all-time highs of $109,874 on Wednesday, before declining to trade at $106,850 by 07:08 ET (11:08 GMT).

The crypto market bellwether had previously struggled to hold above the $105k mark, but growing confidence among investors in the aftermath of US trade tariff ceasefire has triggered a steady decline in risk aversion. The next major milestone is at $110k, the level at which it previously got rejected.

The coin has gained 4.3% in the last seven days and is up by 16% year-to-date. A friendlier regulatory environment in the US has certainly helped propel BTC price up, underlined by the Senate’s passage of a preliminary vote for the Guiding and Establishing National Innovation for US Stablecoin (GENIUS) bill. US President Donald Trump is at the forefront of supporting the bill, and an initial 66-32 vote means it will almost certainly become law once it lands on his desk for assent.

Institutional investment in Bitcoin is rising steadily, with Bitcoin spot ETFs recording net positive inflows in the last five successive sessions. In addition, Bitcoin Treasuries reports that 102 publicly traded companies currently hold BTC, with the value of BTC held having risen to $85.3 billion. These institutions hold 796,040 BTC, representing 3.79% of total BTC supply .

Bitcoin's 24-hour trading volume was also up by 34% as of press time, signaling rising investor appetite for the coin. That will likely push Bitcoin price higher in the near-term.

Bitcoin Price Prediction

The momentum on Bitcoin price calls for further upside above 106,063. The coin will likely meet the first barrier at 108,803. However, an extended control by the buyers will break above that level and likely test 110,000.

Alternatively, the momentum will shift to the downside if the price breaks below 106,063. That will likely lead to the establishment of the first support at 104,645. Breaking below that level will invalidate the upside narrative, and could clear the path for a steeper decline to test 102,990.