Bitcoin’s Hot Streak Rolls On As Apex Crypto Tops $112K For First Time Amid ‘Gold-Like’ Positioning, Risk-On Mood

Bitcoin (BTC.X) hit a new record in the late New York session as the apex cryptocurrency surged past the $112,000 mark amid a resurgence in risk appetite toward financial assets, despite the looming tariff threat.

Just ahead of 4 p.m. ET on Wednesday, the crypto scaled the new peak of $112,055, Decrypto reported, citing data from Cryptocurrency exchange Coinbase. The previous high was $111,891 reached in May.

Citing Coinglass data, the report stated that in the run-up to the new peak, over a one-hour timeframe, investors liquidated approximately $280 million worth of short bets.

Bitcoin has outperformed the broader equity market this year, having added about 20% year-to-date compared to the S&P 500’s 6.5% gains. President Donald Trump’s pro-crypto stance, demand for exchange-traded funds (ETFs), and digital asset Treasury policies have all contributed to prop up Bitcoin.

A Bloomberg report highlighted a speculative momentum in play in the financial markets amid Trump’s tariff announcements, as it pointed to artificial intelligence (AI) chipmaker Nvidia’s rally to a fresh record, taking its market cap past the $4 trillion mark.

Analysts and strategists have preferred to stay cautiously optimistic. Kronos Research’s Chief Investment Officer Vincent Liu told Bloomberg that “Traders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, but the trend is firmly bullish for now.”

Hunting Hill Global Capital Founder Adam Guren said, “BTC’s move through $112,000 reflects the compounding effects of strong ETF inflows, rising institutional adoption, and a favorable macro backdrop.”

“With rate cuts back on the table and political instability rising globally, investors are reaching for hard assets, and Bitcoin is benefiting from both ‘gold-like’ positioning and risk-on momentum,” he added.

Crypto analyst Ali Martinez flagged $106,360 as a major support level for Bitcoin.

On Stocktwits, retail sentiment toward Bitcoin was ‘bullish’ (70/100), an improvement from ‘neutral’ the day before. The message volume also increased to ‘high’ from ‘normal’ a day ago.

Most retailers are positioning themselves for further gains in Bitcoin, with a bullish analyst expecting a move above $115,000 on Thursday.

Fund managers such as Cathie Wood and Fund Strat’s Tom Lee are uber-bullish about Bitcoin. Lee expects the crypto to top 150,000 this year

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