Bitcoin Price Breaks All-Time Highs, Eyes $130K As Bullish Momentum Accelerates

The BTC/USDT trading pair has officially broken through its previous all-time high (ATH), triggering a surge in bullish momentum that now has traders targeting levels as high as $130,000.

The Bitcoin price rose 1.2% to hit a new all-time high (ATH) at $109,800 as of 1 p.m. EST on a 36% pump in trading volume to $76 billion.

The BTC price roared past its previous ATH of $109,588 recorded on January 20, according to CoinMarketCap. It has soared 47% from an April 7 low that was recorded in the aftermath of the impact of the initially swingeing tariffs US President Donald Trump imposed on most of the rest of the world.

#Bitcoin sets a new ATH, breaking past its previous record.

Another milestone unlocked. pic.twitter.com/nAxxkoo8

— Binance (@binance) May 21, 2025

The breakout today follows news that the US Senate advanced a key crypto bill to a establish a regulatory framework for US dollar-pegged stablecoins.

Asset manager Bitwise said the bill could have a bigger impact on the crypto market than the launch of spot Bitcoin ETFs (exchange-traded funds), and might trigger a multi-year crypto bull run.

“Outside of the January 2024 approval of spot bitcoin ETFs, this is the most important regulatory development in the history of crypto,” said Bitwise’s chief investment officer Matt Hougan in a May 20 blog post. ”It may even be bigger. Wall Street and crypto are getting married.”

The BTC price breakout also follows renewed institutional interest in Bitcoin, with ETF inflows rising and firms including Michael Saylor’s Strategy (previously MicroStrategy) and Japan’s Metaplanet going on Bitcoin-buying sprees.

Bitcoin Price Breaks All-Time Highs, Eyes $130K As Bullish Momentum Accelerates

The BTC/USDT trading pair has officially broken through its previous all-time high (ATH), triggering a surge in bullish momentum that now has traders targeting levels as high as $130,000. Currently, Bitcoin is trading at $109,757, following a multi-week rally that saw the market shake off its earlier consolidation phase.

After establishing a strong support base in March around the $73,000 zone, marked by a double bottom, BTC reversed a multi-month downtrend. The chart shows that Bitcoin broke through a key resistance level to set a new ATH, solidifying market confidence.

The move has left behind a fair value gap (FVG) zone between $90,000 and $95,000, which may serve as a strong area of demand should any short-term pullbacks occur.

BTCUSDT Analysis Source: Tradingview

In addition, the Relative Strength Index (RSI) currently stands at 72.08, slightly into overbought territory, reflecting strong buyer dominance. The yellow dotted line in the chart indicates a trailing support trendline that has held throughout the uptrend.

Traders are now targeting the $130,000 mark as the next potential target. The chart marks this level with a bullish arrow, implying that price discovery is underway.

With momentum behind it and liquidity zones already swept below, Bitcoin appears poised for further gains, provided macroeconomic and regulatory conditions remain favorable.

All eyes are now on whether Bitcoin can maintain momentum above the new ATH and push toward the forecasted $130K level. If the bullish scenario plays out, it could mark the beginning of a fresh phase in the current market cycle, potentially bringing altcoins along for the ride.

BTC Bull Token Presale Crashes Past $6M – Next Crypto To Explode?

As Bitcoin pushes toward new all-time highs (ATHs), traders are also piling into BTCBULL Token (BTCBULL), a Bitcoin-themed meme coin that has already secured over $6 million in its presale phase.

The project is built on the belief that Bitcoin will eventually surpass $1 million per coin, and vows to reward token holders along the way with airdrops of real Bitcoin when BTC hits certain price milestones.

The first airdrop will be triggered when Bitcoin reaches $150,000 for the first time, with additional rewards released at every $50,000 increment up to the $1 million mark. The size of each airdrop will be based on an investors presale contributions.

ATH season mfs. Keep climbing. 🔥🐂pic.twitter.com/wAJ39SgQbO

— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 21, 2025

Meanwhile, when the BTC price hits $250,000, 10% of the total 21 billion BTCBULL tokens will be distributed to investors.

This major distribution event is expected to deliver huge returns for long-term holders, especially amid growing optimism that the