On 9 July 2025 Bitcoin hit a fresh all-time high. The cryptocurrency briefly pierced the $112 000 level for the first time ever. A modest pullback followed, yet many in the crypto community remain optimistic.
The Quickex team looked into why Bitcoin rallied and collected BTC forecasts from community representatives in a single review. Below we explain which Bitcoin levels are worth watching.
New high
Bitcoin’s new ATH has been recorded at $112 045. After the peak, BTC momentarily corrected to $110 969. At the time of writing, the coin is changing hands at $111 187.
Bitcoin chart. Source: TradingView
The previous maximum was recorded on 22 May 2025 at $111 970.
It is easiest to track the Bitcoin price on Quickex.
Why Bitcoin went up
BTC managed to renew its ATH following the publication of the June FOMC report. The document points to the likelihood that the Fed will soon shift toward lowering the key interest rate. Recall that U.S. President Donald Trump has been lobbying for such a move for several months.
Lowering the benchmark rate could enhance the investment appeal of high-risk assets such as cryptocurrency because yields on conventional financial instruments drop.
Historically, the crypto market rallies during periods of rate cuts. Often BTC starts to appreciate not when the Fed announces the change but in anticipation of it; market participants price in the forthcoming cut ahead of time. This is likely what happened again.
There is another boost that may also have supported BTC’s momentum: Bitcoin Magazine reports that tech giant Apple has, for the first time, approved an iOS marketplace app featuring Bitcoin micro-transactions. Remember that Apple CEO Tim Cook said back in 2021 that he personally invested in cryptocurrency, while declaring at the same time that his company would not deal with digital assets.
Can Bitcoin keep rising?
To answer that, it is worth assessing the cryptocurrency standing from several angles.
1. Geopolitics
Unfortunately, geopolitical turmoil hits crypto hard because, when global tensions flare, investors jettison the highest-risk assets first.
The conflict between Iran and Israel has been resolved—an enormous plus. But problems remain. For example, Trump continues his “tariff war.” Amid its escalation in April 2025 Bitcoin briefly fell to $76 000.
On 10 July it emerged that Trump had imposed a 50% tariff on imports from Brazil. Bitcoin reacted by retreating from its high. The lack of a deep sell-off may signal the market is developing resilience to such shocks. Still, the risk of further escalation of Trump’s “trade war” cannot be ruled out. In that scenario crypto, as a high-risk asset class, would again come under pressure.
At the time of writing, there are no signs of an imminent flare-up on the geopolitical stage.
2. Technical analysis and fundamentals
From a chartist’s perspective, taking out the previous ATH confirms the strength of the bull trend. The bulls are also bolstered by where BTC sits in the cycle. The coin usually sets a cyclical top roughly 18 months after a halving. If that timing holds, the ultimate peak could arrive in autumn 2025.
Comparison of Bitcoin’s performance in post-halving cycles. The current cycle is shown by the thick orange curve. Source: bitcoincyclescomparison
Halvings create scarcity, pushing the price toward new highs. As of writing, BTC balances on exchanges are at an absolute minimum. That deepens the scarcity and could propel the coin to fresh ATHs.
Bitcoin exchange balances. Source: cryptoquant
The Bitcoin fear-and-greed index is in the “green zone” yet far from overheating. This shows investors are ready to take on risk for BTC exposure, while the market is still distant from the “euphoria” phase, meaning the bull run likely has fuel left.
Bitcoin fear-and-greed index. Source: alternative.me
Another argument in favor of further upside is the growth in M2—global liquidity. Observations indicate that BTC often tracks M2 with a two-to-three-month lag: part of the freshly printed central-bank money ends up on the crypto market.
Bitcoin forecasts
Many community members believe Bitcoin will keep climbing. For example, trader @TylerDurden is convinced that BTC will never fall below $110 000 again.
Trader TylerMMCrypto believes that Bitcoin has broken out of a bullish-flag pattern and is now preparing to assault $140 000. Trader Mister Crypto also believes that BTC is now “aiming” for $140 000.
Bottom line
Bitcoin’s renewal of its record on 9 July 2025 could pave the way for new heights. Several factors point to a probable continuation of the bull run, including relative calm on the geopolitical front, the growing scarcity of BTC on exchanges, and investor optimism.
Members of the crypto community are giving upbeat Bitcoin forecasts. Many are sure that BTC is now “aiming” for $140 000.
Earlier the Quickex editorial team published a long-term Dogecoin price forecast.