Bitcoin Shatters All-Time Highs: Is $120K Next?

Hang onto your hats, crypto fans! Bitcoin just smashed through the roof, hitting new all-time highs, and the buzz is all about whether it's gunning for $120,000 next!

Just this past July 10, Bitcoin (BTC) soared to $113,833, blasting past its previous record for the second day straight. The whole market's buzzing, and the bullish vibes are real, according to the sharp minds at B2BINPAY. And guess what? Altcoins might just ride this wave to glory!

After weeks of hovering between $106,000 and $110,000, Bitcoin finally bulldozed through the $112,000 mark. The B2BINPAY crew reports that this surge sparked over $280 million in liquidations in just one hour—talk about a market shake-up!

“Bitcoin’s latest breakout above $112,000 shows the market's done with being wishy-washy,” B2BINPAY's analysts declared. They're seeing strong signs of fresh demand and some serious conviction buying.

Bitcoin's now flexing at multi-year highs with a dominance of 64%. With strong ETF demand, cash flowing out of exchanges into cold storage, and big companies stashing it in their treasuries, the signals for Bitcoin are all flashing green.

“We're looking at the $115,000 to $120,000 zone next, and the momentum’s pushing hard,” the B2BINPAY team predicts.

Will altcoins follow Bitcoin’s rally?

With Bitcoin taking the spotlight, the big question is: what about altcoins? While Bitcoin's soaking up all the cash, altcoins might just have their moment in the sun. According to B2BINPAY, it all hinges on the bigger economic picture.

“Right now, Bitcoin's stealing the show. But don’t sleep on altcoins—they’re gearing up for a late-summer surge,” B2BINPAY analysts chimed in. “But watch out, if we get hit with some big macro shocks like a hawkish Fed move or global tension, Bitcoin might hog even more of the spotlight as traders play it safe,” they warned.

While Bitcoin can handle macro shocks like a champ, altcoins? They're the sensitive ones. Any news that spooks traders could send the altcoin market into a tailspin.