Bitcoin (BTC) has achieved a historic milestone by reaching a new all-time high of $123,091, pushing its market capitalization to $2.4 trillion. This positions BTC as the world's fifth-largest asset, surpassing Amazon's $2.3 trillion valuation, silver's $2.2 trillion, and Google parent Alphabet's $2.19 trillion. At the time of reporting, Bitcoin was just $730 million shy of overtaking Apple.
The surge comes amid unprecedented institutional adoption, with over 265 companies now holding Bitcoin on their balance sheets – more than double the 124 recorded on June 5. Corporate treasuries collectively hold 3.5 million BTC, including 853,000 BTC (4% of total supply) held by public companies. US spot Bitcoin ETFs fueled momentum with seven consecutive days of inflows, including over $1 billion in net positive inflows on Friday alone. This buying pressure triggered $1.3 billion in short position liquidations within 60 seconds as BTC rocketed past $120,000.
Technically, Bitcoin broke above a critical seven-year trendline resistance level on monthly charts – a barrier containing every bull market top since 2018. Current price action trades within an ascending channel with projections targeting $200,000+ by December 2025. Analysts note immediate resistance at $125,000, while support clusters form around $115,500-$116,500. This cycle's maximum correction remains notably mild at 23.48%, well below historical 29-40% pullbacks.
Amid Bitcoin's scaling challenges, BTC Hyper ($HYPER) emerges as a Layer-2 solution built on Solana's Virtual Machine, raising over $2.7 million in presale. The project aims to enable low-cost Bitcoin transactions and DeFi integration, with mainnet launch planned for late 2025.