Bitcoin [BTC] price surges past $110k to trade at a new ATH of $111,056.55

Bitcoin [BTC] is in the news today after it surged past a historic milestone, breaching the $110k barrier to trade at $111,056.55 at press time.

Bitcoin [BTC] made headlines on Thursday after it crossed a historic price point, surging past the $110k barrier to reach $111,056.55 at the time of writing.

This move also saw BTC rise by 3.65% over the last 24 hours, according to CoinMarketCap.

To put things into perspective, this rally helped Bitcoin climb to become the world’s sixth-largest asset, overtaking tech giants like Microsoft, NVIDIA, Apple, Amazon, and gold.

Saylor pushes people to buy Bitcoin

As expected, this rally brought reactions from prominent figures like Michael Saylor, founder of Strategy (formerly MicroStrategy), who celebrated the achievement on X. He said, “If you’re not buying bitcoin at the all-time high, you’re leaving money on the table.”

Others like Adam Livingston also shared similar thoughts.

Source: Adam Livingston/X

Not everyone shares the same viewpoint

However, Saylor’s own remarks brought some diverse opinions.

For instance, Adaora Favour Nwankwo said, “Saylor pls!!! Leaving which money on which Table exactly? Buy All Time high and get rekt.”

Where is Bitcoin actually heading?

On the price charts, the technical indicators appeared to be showing strong bullish momentum, with the Relative Strength Index (RSI) positioned comfortably above the neutral 50 level.

While this confirmed the presence of upward pressure, the RSI’s position in the overbought territory had sparked caution among traders.

In fact, concerns are growing about the possibility of a trend reversal, especially since overbought conditions usually precede an increase in selling activity, which could transfer market dominance from buyers to sellers.

A closer look at IntoTheBlock data revealed that 100% of Bitcoin holders are currently “in the money,” implying their holdings are valued higher than the original purchase price.

With no visible portion of investors “out of the money,” this data strongly suggests a profitable market position.

However, such widespread profitability could also indicate market saturation and a higher likelihood of profit-taking activity, which may introduce short-term bearish pressure or even trigger a potential correction in Bitcoin’s price path.