On Wednesday afternoon, Bitcoin surged to a new all-time high of $112,040, surpassing the previous record from May, according to data from TradingView. This time, the sharp rise was not driven by ETF funds, but by major tech companies and direct Bitcoin purchases by public companies.

Bitcoin at a new peak

Although billions have flowed into Bitcoin ETFs in recent weeks, they were not the main driving force behind this rally. The key push came from publicly traded companies, which outpaced ETFs in terms of buying activity during the second quarter, according to a report by Cryptopolitan.

The price of Bitcoin initially respected strong resistance at this level, but that turned out to be temporary. After definitively breaking through the $112,000 mark, the market opened up and nothing major seems to be standing in the way of reaching the next psychological milestone – $120,000.

The BTC price tested the former resistance twice as new support (red circles), which is a strong signal of a continued trend. Additionally, new volume is entering the market, and a continuation of positive sentiment is expected.

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Where is the next stop?

With this move, Bitcoin ended a months-long pattern known as a falling flag, a formation that often precedes the continuation of an upward trend. After closing this structure, the usual growth mirrors the previous impulse – which could push the price up to $135,000.

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Bitcoin is currently at a pivotal point. According to technical theory followed by many traders, after a flag formation closes, the price usually moves in the same direction and with similar strength as before. If this scenario repeats, Bitcoin has a growth potential of more than 20%.

Bitcoin is thus entering a new phase – one in which it may finally confirm its position as a dominant digital asset with growth potential even in 2025.

• Note: BTC is a volatile asset, and its price can fluctuate sharply. No one can predict