Just 3% Away from New ATH—Here’s Why $120K is Next

Quick Takes

Bitcoin currently at $107,849, within 3.7% of its ATH.

Institutional adoption and geopolitical tensions support Bitcoin’s bullish momentum.

Short-term prediction sees Bitcoin potentially breaking $120,000.

Bitcoin’s Price Closing in on Historic High

Bitcoin ($BTC) continues its robust performance, trading around $107,849, significantly close to its historic peak of $111,970, reached on May 22, 2025. The crypto market anticipates Bitcoin breaching its previous ATH, fueled by powerful macroeconomic and institutional factors.

Why Bitcoin Is Approaching New Heights

1. Massive Institutional Adoption

Over 60 non-crypto companies, including prominent firms like SoftBank, have now incorporated Bitcoin into their treasuries, significantly increasing institutional confidence.

Recent inflows into Bitcoin ETFs, exceeding $300 million, highlight continued institutional enthusiasm.

2. Weak Dollar Boosting Bitcoin

The U.S. dollar weakened notably following Moody’s downgrade of U.S. debt, benefiting Bitcoin’s price trajectory, which surged over 40% since April.

3. Geopolitical Tensions Enhance Bitcoin’s Appeal

The ongoing Israel-Iran conflict has heightened global uncertainty, reinforcing Bitcoin’s position as a safe-haven asset.

The conflict has indirectly encouraged capital flows into cryptocurrencies, traditionally viewed as hedges during global instability.

Israel-Iran Conflict: Latest Updates

The escalating conflict between Israel and Iran, now entering its fourth day, has significant implications:

Israel’s Operation Rising Lion has targeted Iranian nuclear and military infrastructure, leading to severe retaliation from Tehran.

Iran launched approximately 350 missiles and drone attacks, causing notable casualties and regional instability.

Diplomatic channels remain active, with reports suggesting Iran might be exploring negotiations mediated by Gulf nations. International leaders continue pressing for immediate de-escalation.

Bitcoin Price Prediction: Could $120,000 Be Next?

Bitcoin’s short-term and medium-term outlook appears highly bullish:

• Short-term (1–2 weeks): Bitcoin is likely to decisively surpass its ATH, targeting a range of $115,000–$120,000.
• Medium-term (1–3 months): Continued institutional inflows and global uncertainty could sustain the rally, potentially reaching $120,000–$130,000.
• Risks to Watch: Potential retracements if Bitcoin fails to breach its ATH decisively or if geopolitical scenarios abruptly stabilize.

By TradingView – BTCUSD_2025-06-16 (5D)

Final Thoughts: Bitcoin Primed to Set New Records

With Bitcoin trading tantalizingly close to its ATH, all indicators suggest a strong possibility of it surpassing previous records imminently. Investors and analysts will closely monitor how institutional investments, ETF inflows, and geopolitical developments converge to influence Bitcoin’s next significant milestone.