Bitcoin Hits New All-Time High of $123,700 on OKX
Bitcoin reached a new record high of $123,700 on the OKX exchange after climbing above $123,600 earlier in the week. BTC’s price rose by around 2.9% in a single day, reflecting growing institutional interest and strong bullish sentiment in the crypto market. Trading volumes on major exchanges have surged as investors pile in, while traders monitor key resistance levels, order book dynamics and market indicators for potential retracements. This upward momentum could drive further short-term gains and support a longer-term uptrend for Bitcoin.
Bullish
The new all-time high and a 2.9% daily gain indicate robust bullish momentum for Bitcoin. Rising trading volumes on major exchanges and growing institutional interest signal increased demand, which typically supports further price appreciation. In the short term, traders may push BTC to test new resistance levels, while caution over potential retracements could create volatility. Over the longer term, this sustained upward trend and strong market indicators suggest a continued bullish trajectory for Bitcoin.