Bitcoin (BTC) has reached a new all-time high, trading above $109,800 on Wednesday, surpassing its previous peak from January.
This surge is attributed to 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 Advances Strategic Bitcoin Reserve Bill
On the same day, the Texas House passed Senate Bill 21, establishing a state-level Strategic Bitcoin Reserve. The bill allows the state comptroller to invest in cryptocurrencies with a market cap above $500 billion over the previous 12 months, currently only Bitcoin.
This move 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
With Bitcoin now comfortably above $109,000, analysts are offering aggressive forecasts for where the price could head next:
- Willy Woo, a prominent on-chain analyst, predicts a fast surge to $118,000, noting that Bitcoin historically enters rapid expansion after breaking all-time highs.
- Anthony Scaramucci, founder of SkyBridge Capital and former White House official, sees a path toward $180,000 to $200,000 by year’s end, citing rising global adoption and constrained BTC supply.
- Trading volume, funding rates, and global search interest are all pointing toward a fresh leg higher, possibly making $120,000 the next psychological battleground.
Where Does Bitcoin Go From Here?
With bullish technical momentum, political tailwinds, and increasing institutional confidence, most analysts agree the next leg up may happen faster than many expect.
- Short-term target: $118,000
- Medium-term forecast: $140,000–$150,000
- Long-term: $180,000–$200,000
But investors should be cautious—volatility tends to increase at record highs. Sudden pullbacks remain possible, especially if regulatory headlines or macroeconomic shifts emerge unexpectedly.
Still, with states like Texas going all-in and Trump doubling down on digital assets, Bitcoin’s long-term narrative appears stronger than ever.
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