Bitcoin (BTC) Hits a New ATH, However It is Not What You Suppose

TL;DR

• One essential BTC metric reached a brand new all-time excessive, highlighting sturdy adoption and optimism throughout buyers.
• Analysts see potential for BTC to hit almost $120K, however with RSI nearing 70, a short-term correction could possibly be looming.

Not the Peak the Bulls Anticipated

Regardless of the retreat after hitting a brand new historic peak of just about $112,000 on Might 22, Bitcoin’s (BTC) value has been booming up to now a number of months. At present, it’s price simply over $107,000, representing a 53% enhance on a yearly foundation.

The bull run coincides with the rising variety of BTC holders, which, based on the crypto analytics platform, reached a brand new all-time excessive of 55.39 million. The event will be interpreted as an optimistic signal, because it signifies rising adoption and better demand for the first cryptocurrency.

As crypto markets try and rally on the finish of the work week, crypto networks proceed to develop over time. Listed below are the full quantity of holders for choose high caps:

Ethereum $ETH: 148.38M Holders
Bitcoin $BTC: 55.39M Holders
Dogecoin $DOGE: 7.97M Holders
Tether… pic.twitter.com/wKBXHV0BrF

— Santiment (@santimentfeed) June 6, 2025

Bitcoin Worth Targets

We talked about BTC’s value rally witnessed within the final months, and now let’s see if there’s extra room for progress, at the least based on some well-liked analysts.

The X consumer Captain Faibik not too long ago claimed that the valuation might surge to a brand new all-time excessive of over $113,000 ought to it break the resistance stage of $105,700.

CryptoBullet chipped in, too. They famous BTC’s latest resurgence above $107,000, suggesting that the value “is able to go greater” and set a goal of $119,000.

Then again, buyers ought to keep watch over Bitcoin’s Relative Energy Index, which neared overbought territory at nearly 70. This alerts that the asset’s valuation has elevated too quickly over a brief interval, which could possibly be a precursor to a correction.

Conversely, ratios beneath 30 are thought-about bullish, indicating that the value could be headed for a rally.