Bitcoin hit a second record high on Monday, trading above $127,000 after first breaking $125,000 on Sunday
The post Bitcoin hit a second record high on Monday, trading above $127,000 after first breaking $125,000 on Sunday appeared on BitcoinEthereumNews.com.
Bitcoin broke its all-time high for the second time on Monday night, smashing past $127,000, as traders watched as the price of the OG crypto by market value hit $127,035 before climbing again to $127,253. This followed Sunday’s first break above $125,000, and by Monday, Bitcoin was already up by 4% on the session and more than 33% for the year, according to data from Reuters. This breakout comes alongside a weakening U.S. dollar, with Trump’s tariffs on American trade partners and uncertainty over their impact pushing investors to shift away from dollar-based assets. The dollar index sat flat at 98.09 on Monday but has fallen nearly 10% since January. This environment is helping crypto assets attract more buyers who are looking for alternatives. Anthony Pompliano, founder and CEO of Professional Capital Management, wrote on Monday, “Bitcoin is the hurdle rate. If you can’t beat it, you have to buy it. And I think the next 12 weeks are going to be very fun for bitcoin holders.” Traders raise bets on $140,000 as options, ETFs, and futures pile in The push to this new record began after Bitcoin briefly dipped under $110,000 just over a week ago. David Morrison, senior market analyst at Trade Nation, wrote in an email, “Bitcoin has surged ever since it briefly broke below $110,000 just over a week ago. The current rally means that Bitcoin has added around 13% since 28th September.” He also noted the daily MACD turned up sharply, which may show momentum is strong, but could also mean Bitcoin may need to consolidate before pushing further. Meanwhile, short-term Bitcoin options contracts settling at year-end are now clustered around the $140,000 strike price for calls on Deribit by Coinbase, while puts have also seen moderate increases as some players protect against a pullback,…
