Bitcoin’s ($BTC) recent bull rally has triggered new optimism across the crypto market. In this respect, Bitcoin ($BTC) has effectively reclaimed the $120K mark in terms of price. This suggests a growing dominance of the bulls amid positive sentiment. This remarkable upswing after surging past the double-zero zone, $BTC is now looking for another all-time high (ATH) in the near term.
Bitcoin Surges Past $120K in Speculation of Hitting New ATH
In line with the new market data, Bitcoin ($BTC) has surpassed the $120K mark for another time. This development comes after the recent U.S. government shutdowns, raising speculation for jump to an exclusive ATH. At the moment, the flagship crypto asset is changing hands at $120,070.23.
Bitcoin’s ($BTC) current price of $120.070.23 indicates a 1.14% increase over the past 24 hours. At the same time, the market capitalization of Bitcoin has touched $2.39T, suggesting a 1.18% rise. Moreover, the 7-day price performance of the leading cryptocurrency presents a 9.66% surge.
Uptober Hype Heightens as Bulls Eye $125K as Next Price Target
Keeping this in view, the crypto traders are chatting about Bitcoin’s potential spike to a new ATH at the start of this month, which is now getting popularized as “Uptober.” Currently, $121.86 poses a notable price resistance. Thus, overcoming this level could lead to new highs while the overall sentiment appears significantly bullish.
According to Bitcoi.com News, Bitcoin’s ($BTC) jump to $120K fuels hopes for further highs. Thus, if the current momentum continues, Bitcoin is anticipated to hit an exclusive ATH of $125.071 over the next 30 days, signifying a 3.95% growth. However, whether this translates into reality or not remains to be seen in the upcoming days.
