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What next for Bitcoin after hitting a new all-time high? Check forecast

Key takeaways

  • Bitcoin hit a new all-time high of $112k after adding 3% to its value on Wednesday.
  • The coin could rally towards $115k-$120k if macro conditions remain favorable and price action holds.

Bitcoin hits a new all-time high

Bitcoin, the leading cryptocurrency by market cap, surged to a new all-time high price on Wednesday after adding 3% to its value. The new Bitcoin all-time high now stands at $112,128 as analysts predict the coin to hit between $115k and $120k over the coming weeks or months.

The positive performance comes amid growing institutional demand. Recent reports reveal that spot Bitcoin ETFs now have nearly $150 billion in assets under management (AUM).

Furthermore, an increasing number of companies are adding Bitcoin to their balance sheets. Strategy, Metaplanet, and GameStop are the biggest corporate Bitcoin adopters, but more companies are now implementing Bitcoin treasuries.

BTC could surge to $115k

The BTC/USD 4H chart is bullish but inefficient after Bitcoin rallied to a new all-time high. This means that Bitcoin could temporarily dip to the $109,700 level to grab liquidity before rallying higher. 

The Relative Strength Index (RSI) of 65 shows that Bitcoin is currently in a buying spree, but investors could push it higher. Furthermore, the MACD lines are in the positive zone, suggesting a bullish bias.

BTC/USD 4H chart

If Bitcoin rallies higher and $112K becomes support, the rally could extend toward $116K–$120K. Supporting confluences for this rally include a clean break of all-time high, continued accumulation by institutions, lack of major resistance until $115k psychological level, and the 4-Hour Fair Value Gap ($109,800-$110,800) remaining intact.

However, if the rally stalls at the all-time high levels, we may see a correction. The failed breakout above $112,000 with no sustained momentum could see BTC dip lower. If that happens, the 4H FVG around $109k would not provide any major support, and BTC could drop to the $108k level.

The post What next for Bitcoin after hitting a new all-time high? Check forecast appeared first on CoinJournal.

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GMX price dives 20% after $40 million hack

  • GMX price fell 20% after the decentralised perpetuals exchange suffered a $40 million exploit on its V1 platform.
  • Investor panic and concerns over repeated security incidents put bulls under pressure near $11.45.
  • GMX’s response to stabilise confidence and mitigate further losses will be key.

GMX, an on-chain perpetual and spot exchange, experienced a substantial security breach.

The exploit, which resulted in the loss of approximately $40 million, has triggered a sharp decline in the value of the GMX token.

As far as hacks go, this incident further underscores the dangers and impact of persistent vulnerabilities within the decentralised finance space.

Prices have often dipped sharply amid such news.

GMX hacked for $40 million

On July 9, 2025, GMX announced that its V1 platform and GLP liquidity pool on the Arbitrum network were compromised, leading to the unauthorised transfer of around $40 million in tokens to an unknown wallet.

The GMX team detailed in a post by X that, following the incident, trading, minting, and redeeming of GLP on both Arbitrum and Avalanche were disabled to mitigate further risks.

SlowMist also highlighted the exploit, noting on X:

“The root cause of this attack stems from GMX v1’s design flaw where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”

By leveraging the Keeper’s ability to enable timelock.enableLeverage, the attacker created massive short positions, artificially inflating GLP prices, and subsequently profited through redemption operations.

The highlighted code snippet from the post illustrates the critical section where global short profit/loss calculations were exploited, enabling the manipulation.

GMX’s response included a commitment to investigate the incident with the assistance of security partners, promising a detailed update.

“Out of an abundance of caution, GMX had already updated the caps for the GM tokens of GMX V2 on Arbitrum and Avalanche, so that minting new tokens is currently restricted in most liquidity pools. A follow-up notification will be sent out once this restriction is lifted,” the platform wrote.

GMX price dives 20% amid market reaction

The reaction of GMX holders to the hack was largely negative, with the price falling sharply to see the DEX protocol lag the overall crypto bounce.

According to data from CoinMarketCap, the GMX token experienced a double-digit decline.

It traded above $14.54 but dropped more than 20% to lows of $10.40.

GMX price chart by CoinMarketCap

The breach of GMX adds to the list of key crypto protocol exploits in 2025, with Cetus Protocol among those to suffer a malicious attack a few months ago.

Unless GMX successfully recovers the funds or implements robust security enhancements, the negative sentiment could impact its price.

Currently, the GMX token trades near $11.45, still under pressure after falling from highs above $14.54.

The post GMX price dives 20% after $40 million hack appeared first on CoinJournal.

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Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation

  • Ethereum’s price rose 6% to above $2,800, driven by Bitcoin’s rally to $112,000 and optimism around ETH whale activity.
  • The gains came as over $500 million in leveraged positions, including $139 million in ETH, were liquidated.
  • Institutional interest and increased buying could drive Ethereum’s price higher.

Ethereum (ETH) rose a decent 6% in 24 hours to reach highs above $2,800, with the top altcoin buoyed by a broader market rally.

This is after Bitcoin (BTC) soared to a new all-time high above $112,000.

However, the sharp price movements triggered widespread liquidations, with over $500 million in leveraged positions wiped out across major exchanges.

Most of these were shorts, with cryptocurrencies rising alongside stocks on Wednesday.

Ethereum hits $2,800 as crypto sees market momentum

Ethereum’s climb to $2,821 in early trading on Thursday came as Bitcoin’s breakout above $112k lifted the broader digital assets space.

It’s this bullish sentiment that has ETH price up more than 6% and on the cusp of a breakout above $3,000.

According to data from CoinGecko, Ethereum’s trading volume spiked by 69% to over $29.8 billion, reflecting heightened market activity.

Apart from a broader market upswing, ETH is benefiting from regulatory developments and the anticipation of what is next for the top altcoin.

Whales and institutions are aggressively buying ETH, with Abraxas Capital withdrawing 29,741 ETH worth $81 million from crypto exchanges Binance and Kraken.

Lookonchain shows the transactions occurred within the last 12 hours.

Another wallet withdrew over 25k ETH tokens worth over $70 million from Kraken.

Notably, SharpLink Gaming, a company that holds over 205,634 ETH worth over $575 million, added to its haul with another 5,072 ETH worth over $13.5 million.

Over $500 million in liquidation signals market volatility

As Bitcoin and Ethereum rallied, the broader crypto market experienced over $500 million in liquidations, largely impacting leveraged traders who were caught off guard by the sharp price moves.

Data from Coinglass shows that total liquidations surged 285% in the past 24 hours, reaching over $538 million.

The bulk of the losses came from short positions, as traders betting against the market’s upward momentum faced significant losses.

Ethereum alone accounted for $156 million in liquidations, with $139 million of that tied to short positions, according to Coinglass.

Despite the liquidations, market sentiment remains cautiously optimistic, with institutional inflows into crypto exchange-traded funds (ETFs) and stablecoin reserves signaling sustained demand.

As Bitcoin continues to set new benchmarks, Ethereum’s role as a foundational blockchain for decentralized applications ensures its relevance in the evolving crypto landscape.

Currently, the Ethereum price has a key support zone near $2,500.

Meanwhile, a symmetrical triangle pattern suggests upward potential and is eyeing the $2,850 resistance.

If price breaks above $3k, it could target the $4k and all-time high levels.

The post Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation appeared first on CoinJournal.

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Bitcoin hits record high of $112,055; crypto stocks rally in response

Bitcoin has once again smashed through its previous records, surging past the $112,000 mark for the first time in its history to set a new all-time high on July 9.

The milestone represents a significant achievement for the leading cryptocurrency as it continues to recover from the market aftershocks of US President Donald Trump’s tariff policies and solidifies its position in an evolving financial landscape.

As the broader crypto market continues its recovery, Bitcoin (BTC) hit a new record high of $112,055 on Tuesday. This fresh peak surpasses the previous all-time high of $111,970.17, which was set on May 22.

The digital asset has been trading in a volatile range since then, with the area around the $110,000 level proving to be a significant psychological and technical barrier.

Over the past several weeks, each time Bitcoin’s price neared this level, it was met with a combination of profit-taking from existing holders and increased pressure from short-sellers.

This latest decisive break suggests a new wave of bullish momentum has taken hold.

The journey of Bitcoin, first introduced in a 2008 white paper by its pseudonymous creator, Satoshi Nakamoto, has been remarkable.

Launched in 2009 as the world’s first decentralized cryptocurrency, it has grown to become the largest digital asset, with a current market capitalization of $2.18 trillion.

At the time of this report, Bitcoin accounted for nearly 65% of the total crypto market capitalization of $3.4 trillion.

From crossing the $100 mark in April 2013 to the $1,000 mark in November of that same year, its path has been marked by staggering growth.

It first hit the $10,000 level in November 2017 and reached a memorable peak of $69,000 in November 2021.

Following President Trump’s victory in his second presidential election, it set a new all-time high of $76,999 in early November 2024, before crossing the landmark $100,000 target in early December 2024.

The institutional bedrock: a maturing market

A key factor underpinning Bitcoin’s current strength is its growing acceptance within the traditional financial system.

With the Trump administration signaling its validation of Bitcoin through its plan to create a strategic US Bitcoin reserve, and with the continued institutional adoption led by Wall Street giants such as BlackRock (NYSE: BLK), the “king coin” appears to have found a more secure home, at least for now, within the US financial ecosystem.

BlackRock’s iShares Bitcoin Trust, a prime example of this institutional integration, now currently owns 3.5% of the total supply of Bitcoin.

The success of this and other spot Bitcoin ETFs has had a profound effect on institutional investment and has likely influenced the broader market optimism.

A quiet build-up, a bullish setup?

While the new all-time high is a headline-grabbing event, some market watchers have noted that the build-up to this moment has been relatively slow and quiet, which they interpret as a potentially bullish setup for what’s to come.

“Crypto feels so quiet, [while] bitcoin is ready to move,” wrote Charlie Morris, chief investment officer at ByteTree, in a recent report.

Morris pointed out that Bitcoin’s volatility has been steadily declining, a pattern that has historically preceded large upward price movements.

This sentiment was reflected in the performance of crypto-related stocks. Shares of Strategy (MSTR) were higher by 4.4%, trading at $414, just a few dollars shy of its highest level in 2025 (though still well below its record high of $543 set late last year).

Crypto exchange Coinbase (COIN) was ahead by 5%, and Bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) were both up by roughly 6%, all riding the wave of Bitcoin’s record-breaking achievement.

The post Bitcoin hits record high of $112,055; crypto stocks rally in response appeared first on CoinJournal.

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Donald Trump Jr. backs social media startup aiming to become a crypto powerhouse

  • Trump Jr. invests $4M in crypto-focused startup Thumzup despite minimal revenue.

  • Thumzup allocates up to 90% of liquid assets to Bitcoin and other cryptocurrencies.

  • Eric Trump joins crypto-heavy Metaplanet; both brothers advise Dominari Securities.

Donald Trump Jr. has sparked fresh interest with a $4 million stake in Thumzup Media Corp., a little-known Los Angeles startup navigating the crowded world of social media and advertising tech.

Thumzup, which pays everyday users to promote brands on Instagram, hasn’t made much noise financially as it reported just $151 in revenue and over $2 million in losses in the first quarter of 2025.

Still, the company has become a curious symbol of a rising trend: businesses stockpiling cryptocurrency as part of their corporate strategy.

Trump Jr.’s 350,000 shares’ worth move seems less about short-term earnings and more about backing a new kind of digital play.

Thumzup’s board has greenlit a bold shift in strategy: allowing up to 90% of the company’s liquid assets to be held in Bitcoin.

As of early July, the company held 19.106 BTC, roughly $2.1 million at current market value.

While the “Bitcoin treasury” playbook has been popularized by companies like MicroStrategy, Thumzup appears to be taking it a step further.

After raising $6 million in a recent private funding round, the board gave the go-ahead to diversify its crypto holdings to include Ethereum, Solana, Dogecoin, Litecoin, Ripple, and USD Coin.

Company leaders say the expanded portfolio is designed not just to hedge against Bitcoin’s volatility, but also to tap into the broader upside of the crypto market.

It also opens the door for accepting crypto payments from Thumzup’s growing base of over 1,000 advertisers.

Trump family’s growing interest in crypto

The Trump family is making deeper inroads into the crypto world.

Both Donald Trump Jr. and his brother Eric are advising Dominari Securities, the firm that led Thumzup’s recent funding round and began investing in a Bitcoin ETF earlier this year.

Eric has also taken a seat on the board of Metaplanet, a Japanese company that pivoted from the hospitality business to becoming a major Bitcoin holder.

At the same time, Trump Media & Technology Group, which owns Truth Social, recently locked in $2.3 billion in funding, much of it reportedly aimed at Bitcoin-related investments.

The Trump family’s deepening ties to cryptocurrency mark a sharp shift from their earlier stance. Once a vocal skeptic, former President Donald Trump now says he wants to make the US the “crypto capital of the world.”

For the Trumps, embracing crypto isn’t just about financial opportunity, it’s also a strategic move to connect with a growing base of digital asset enthusiasts and stay relevant in a fast-changing economic landscape.

The post Donald Trump Jr. backs social media startup aiming to become a crypto powerhouse appeared first on CoinJournal.