What’s Next After Bitcoin’s Latest All-Time High?
Bitcoin has rebounded from its 2025 low in April to reach a new all-time high. There is renewed optimism in a sustained rally for the blue-chip token with strong inflows and regulatory tailwinds.
Since the April low of $75,000, Bitcoin has rebounded sharply by over 50 percent to reach a new high of over $122,000 earlier this week. This follows a peak-to-trough drop in the first four months of 2025 of around 30 percent after a late 2024 rally on the back of hopes for supportive regulations under US President Donald Trump.
In an investment note by Julius Baer, next generation research analyst Manuel Villegas said the latest rally was driven by demand for spot wrappers like exchange-traded funds (ETF) and stablecoins, as well as $1.3 billion of short liquidation in exchange during the last leg.
«For the first half of 2025, top-down factors hijacked the spotlight, leaving investors unaware of the incremental flows. As well as advancing its value proposition through its scarcity, Bitcoin also provides a hedge against the weakness of the US dollar,» Villegas explained.
More Upside Ahead?
According to a report by Standard Chartered, which became the first global systematically important bank to launch institutional crypto trading in the UK on Tuesday, there is more upside for Bitcoin in the second half of 2025.
ETF flows in the third and fourth quarters are expected to surpass the second quarter, which was already near prior highs. Bitcoin treasuries – companies like MicroStrategy that buy the coin just to put on balance sheets – are emerging as a demand source. Fed independence is also being undermined with the possibility of faster rate cuts.
The British lender has set a 3-month and 6-month target of $135,000 and $200,000, respectively.
Maturing Market
Irrespective of Bitcoin’s upcoming price levels, there are other positive takeaways for the leading digital token. According to a research report by Deutsche Bank, Bitcoin’s recent rally to record highs was accompanied by a historic drop in volatility, which is a sign of a maturing market. Turbulence could continue to fall as mainstream acceptance grows with increased adoption by companies, retail investors and governments.
On top of investor demand, there are also regulatory tailwinds underway as Washington currently attempts to pass two major bills – the CLARITY Act and the GENIUS Act, which set rules for crypto market structure and stablecoins, respectively.
