Bitcoin hits new ATH: BTC hits new record of $110.800 and targets $116, analyst says
Bitcoin's price reached a new all-time high on Tuesday (21), trading at US$110.800 on Binance, up almost 4% in the last 24 hours. The break of the US$109 barrier comes after several failed attempts in recent days, paving the way for the so-called price discovery — a phase in which the asset operates above all previous price levels.
The new high comes amid a steady flow of institutional capital into spot Bitcoin ETFs. In the past few weeks alone, net inflows have topped billions of dollars, boosting demand and putting pressure on available supply in the markets.
Analyst Ali Martinez, known on X (formerly Twitter) as @ali_charts, commented on BTC's next possible targets after the new high.
“#Bitcoin $BTC is trading at new all-time highs, entering price discovery. The next key levels to watch are $116,000, $126,000, $136,000, and $148,000!”, he stated in a recent post.
# Bitcoin $ BTC is trading at new all-time highs, entering price discovery. The next key levels to watch are $116,000, $126,000, $136,000, and $148,000! pic.twitter.com/yh3ShJ5X59
— Ali (@ali_charts) May 21, 2025
These levels are seen as potential psychological and technical resistance zones where investors can take profits or the market may pause its advance momentarily. However, the overall outlook remains bullish, supported by growing institutional adoption and structural scarcity of the asset.
With BTC now in uncharted territory, traders and analysts will be on the lookout for signs of a continuation of the trend or potential corrections. The breakout of the $109 zone — which had proven to be a stumbling block in recent sessions — was interpreted as a sign of strength, with the market now eyeing the next milestone: $116.
Meanwhile, on social media, the community is celebrating the new ATH with enthusiasm and speculating on how far the rally could go. The consistent inflow of capital via ETFs suggests that the buying pressure is not yet close to exhausting, fueling expectations that Bitcoin could soon test the levels indicated by Martinez.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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