Around 06:00 GMT on Monday, Bitcoin reached a new all-time high of around $109,000 on Binance.
However, the leading cryptocurrency at the time of writing is trading close to the $108,000 level, having pared some gains.
The rally has been fuelled by renewed institutional interest, growing acceptance and optimism over regulatory clarity with Donald Trump’s inauguration
The digital asset took more than a month to break the previous record high, which was reached on Dec. 16.
The cryptocurrency’s market capitalization has risen by about 2.8%, reaching $2.14 trillion.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?
Bitcoin has officially reached the $116,000 milestone, a level previously forecasted by crypto services firm Matrixport using its proprietary seasonal modeling.
Bitcoin’s market signal has officially shifted back into a low-risk phase, according to a new chart shared by Bitcoin Vector in collaboration with Glassnode and Swissblock.