Breaking: Bitcoin hits new all-time high, with BTC/USD crossing above $109,400

• Bitcoin hit a new all-time high, with the BTC/USD pair crossing $109,400 on Wednesday, breaking its previous milestone of $109,228 from January 20.
• The new milestone marks the second time BTC has established a new all-time high in 2025.
• Bitcoin has now risen more than 47% since establishing a low below $75,000 on April 7.

Bitcoin (BTC) stretched its rally to 3.5% in the past 24 hours, sending the BTC/USD pair to a new all-time high above $109,400 on Wednesday. Although the BTC/USDT pair is yet to reach new heights on crypto exchange Binance.

BTC’s march to the new milestone on Wednesday follows a 47% rise from a low just below $75,000 on April 7, marking the second time it reached a new all-time high in 2025.

The top cryptocurrency faced intense bearish pressure between January and early April after US President Trump began talks of slapping tariffs on several international trading partners.

Just after establishing a high of $109,228 on January 20, Bitcoin crashed more than 30% to under $75,000 before picking up pace in mid-April following signs of the US reaching trading agreements with several nations.

The entire crypto market is showing bullish signs following BTC’s new high, with the positive sentiment also lifting top altcoins Ethereum, XRP and Solana.

Bitcoin soars above its all-time high

Bitcoin broke above its $105,000 resistance level on Sunday, rising above $106,000 before finding support near $105,200 on Monday. At the time of writing on Wednesday, it rallied and broke above its all-time high of $109,228 set on January 20.

If BTC continues its upward trend into uncharted territory, it could extend the rally toward its next major psychological milestone at $120,000.

The Relative Strength Index (RSI) and Stochastic Oscillator are in their overbought regions, indicating strong bullish momentum. However, traders should be cautious as the chances of a pullback are high due to its overbought condition. The 50-day Simple Moving Average (SMA) is on the verge of crossing above its 200-day SMA, signaling a potential golden cross on the daily chart. If the crossover occurs, it would confirm another buy signal.

BTC/USD daily chart

However, if BTC faces a pullback and closes below $105,000, it could extend the decline to retest the support near its psychological level at $100,000.

(This is a breaking news and will be updated as the story develops)