Bitcoin has hit an all-time high of $123,091 , overtaking Amazon in market value with a $2.39 trillion market cap, making it the fifth-largest asset globally. Former Binance CEO Changpeng Zhao (CZ) reminded followers that in 2014, it took years for Bitcoin to reclaim $1,000—implying today’s numbers may seem small in hindsight. The price surge wiped out $1.3 billion in short positions within seconds as BTC leaped past $120K. The market has gained $1.2 trillion since early April, helped by favorable political events like President Trump halting tariffs and pushing forward his economic agenda. Institutions are fueling the rally too. Hedge funds, family offices, and even conservative investors are reportedly eyeing 1% allocations to Bitcoin. The IBIT ETF has reached $76 billion in assets in under a year, far faster than gold’s GLD which took 15 years to do the same. Bitcoin’s recent 23.48% dip was mild compared to past cycles, which saw pullbacks of up to 87%. Historically, Bitcoin corrections stem from regulation, macro shifts, or investor profit-taking. Despite the volatility, each cycle has trended higher, reinforcing its long-term value. Technical analysis shows Bitcoin has broken above a long-standing trendline that limited all past bull markets since 2018. It’s now following a steep growth curve, with projections suggesting a potential rise to $200,000 by late 2025 . The absence of major sell-offs at recent highs indicates strong buyer demand. While corrections are always possible, they’re seen as buying opportunities. As CZ put it, today’s price is likely “just a fraction” of where Bitcoin is heading.
