Bitcoin has officially set a new all-time high, surging past the $119,000 mark on Sunday, marking the seventh consecutive week in a powerful uptrend for the world’s largest cryptocurrency. On the Bitstamp exchange, the BTC/USD pair reached $119,444, breaking its previous peak from just two days prior and triggering a wave of short liquidations.
According to data from analytics platform CoinGlass, over $20 million in short positions were wiped out within just one hour due to Bitcoin’s sudden price spike.
Market analyst Daan Crypto Trades commented on X (formerly Twitter): “Next week is shaping up to be very interesting. There’s significant liquidity built up on both sides of the current price range. A large group of traders just took profits around the $119,000 zone.”
Daan highlighted two critical zones to watch: support between $115,500 and $116,500, and the psychologically significant resistance at $120,000.

Echoing the sentiment, investor Niels – co-founder of Web3 incubator Ted Labs – noted: “Bitcoin is facing strong resistance in the $119,000–$120,000 range. If it breaks above $120,000, the path toward $135,000–$140,000 could open up. Otherwise, a rejection might send the price back to retest the $114,000–$115,000 region before resuming its upward trend.”
Could Bitcoin Climb Another 50%?
Several market experts remain optimistic about Bitcoin’s potential for further gains. Trader BitBull remarked: “There’s no reason to be bearish on BTC right now. This is the strongest weekly breakout since November 2024 — and that rally reached 50%.”
BitBull also pointed to several bullish catalysts supporting Bitcoin’s current rally, including record-breaking institutional inflows, the upcoming “Crypto Week” event in the U.S., and speculation surrounding Federal Reserve Chair Jerome Powell possibly stepping down.
Technical analyst Rekt Capital added: “The first week of Bitcoin’s second bullish phase is wrapping up. The second week begins tomorrow. The last uptrend lasted for seven straight weeks.”
BTC
ETH
XRP
USDT
BNB
SOL
USDC
DOGE
TRX
ADA 






