Bitcoin surged to a record high last week, reaching an all-time high of $109,487.23.
https://x.com/binance/status/1926979793595122036
The cryptocurrency’s rally has been fueled by growing institutional adoption and anticipation of new stablecoin legislation in the United States. Legendary trader Peter Brandt, known for his accurate predictions of the S&P 500, shared his thoughts on Bitcoin’s recent performance.
https://x.com/binance/status/1926979794706612713
He described the new all-time high as “wonderful” but noted that it wasn’t technically significant, as all-time highs are common during bull markets. Based on his technical analysis, Brandt projects that Bitcoin could potentially reach $125,000 to $150,000 by the end of August. Wall Street veteran and mathematician Fred Krueger is even more bullish on Bitcoin, projecting that the cryptocurrency could reach $600,000 by October.
As global economic uncertainties rise, investors are increasingly turning to Bitcoin as a safe haven asset.
https://x.com/saylor/status/1926972171349373129
Chainlink co-founder Sergey Nazarov said, “Bitcoin is starting to behave as a safe haven asset, and there’s more and more instability in the world.
Bitcoin’s record high momentum
If you wanted to choose a second safe haven asset after gold, bitcoin would now be a logical choice.”
https://x.com/saylor/status/1926616797962174914
There is also optimism that meaningful crypto legislation is imminent. Both chambers of Congress are considering key regulatory frameworks for stablecoins and market structure bills that would govern how digital assets are traded and held. Sen.
Bill Hagerty, R-Tenn., referring to the GENIUS Act, said, “I think in 10 days we will have it completed and through the Senate.” Rep. French Hill, R-Ark., emphasized the need for regulatory clarity to attract innovation and investment back to the U.S.
Institutional interest in Bitcoin continues to grow, with U.S. bitcoin exchange-traded funds attracting about $4.2 billion in inflows this May alone. Major U.S. banks are also exploring partnerships with crypto firms to issue joint stablecoins.
However, some analysts warn that the growing demand for short-duration calls could be a contrarian signal, suggesting that speculative excess is often seen near market tops. Markus Thielen, founder of 10x Research, said the options market is flashing a warning, with the seven-day calls trading at a 10% premium to puts. As the global financial system remains in flux and regulatory clarity is on the horizon, Bitcoin’s breakout could be just the beginning of a broader transformation in how value is stored and moved.
