Bitcoin (BTC) is currently priced at $123,128, accompanied by a 24-hour trading volume of $72.38 billion. The leading cryptocurrency holds a market capitalization of $2.46 trillion and maintains a strong dominance of 58.24%. Over the past 24 hours, BTC has gained 1.02%, signaling steady upward momentum.
BTC achieved its all-time high of $125,646 on October 5, 2025, marking a historic milestone that continues to fuel bullish expectations across the crypto market.
As a crypto analyst, ZAYK Charts observes that Bitcoin was able to breach the major horizontal resistance near $123K despite being rejected multiple times. This is considered a conclusive technical breakdown, and it has generated optimism that it could explode towards $140K should momentum remain strongly on the upside side.
The breakout followed weeks of consolidation that consistently topped upside potential. BTC’s current breakout above $123K is thus earmarking growing strength and renewed confidence among traders. Analysts suggest further institutional inflows could add fuel to the rally, potentially accelerating BTC’s path toward new all-time highs.
BTC’s technical configuration now appears quite healthier, with heavier support levels in place near $122K and $123K. Maintaining momentum above this reclaimed level could confirm a trend continuation phase, setting the stage for a large-scale rally backed by heavy market participation and institutional enthusiasm.
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Recent spikes in price seemed motivated more by short traders. Bitcoin spot ETFs in the U.S. had net inflows of $3.24 billion in the week just ended, carrying total cumulative inflows beyond the $60 billion level, highlighting improved institutional demand and rising faith in Bitcoin’s long-term performance.
But long-term holder (LTH) supply decreased noticeably from mid-June, and that went from 15.92 million BTC to 15.32 million BTC, based on Coinglass data. This decline may suggest profit-taking or defensive repositioning before likely corrections off Bitcoin’s parabolic run-up.
CoinGlass data also indicates Bitcoin’s Net Unrealized Profit/Loss (NUPL) gauge climbed from 0.51 to 0.56 in the prior week. Although still in neutral territory, an ascent towards 0.70 may initiate profit-taking, and hence, initiate one’s short correction before the subsequent significant upside breakdown.
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