Bitcoin’s bullish momentum intensified as the cryptocurrency breached the $120,000 threshold, marking its first ascent to this level since mid-August. The digital asset registered a 1% gain during Thursday’s trading session, fueling optimism among investors about potential new historical peaks.
Market analysts observed sustained buying pressure throughout the trading day, with institutional and retail participants demonstrating renewed confidence in Bitcoin’s long-term value proposition. The breakthrough comes amid strengthening fundamentals in the cryptocurrency ecosystem, including growing institutional adoption and favorable regulatory developments in key markets.
Technical indicators suggest the current rally may have further room to run, with several key resistance levels being tested. Trading volumes have increased significantly compared to previous sessions, indicating broad-based participation in the upward move. Market sentiment has turned decidedly positive, though some traders remain cautious about potential short-term volatility.
The $120,000 psychological barrier had previously served as a significant resistance point, and its breach represents an important technical achievement for Bitcoin bulls. Market participants are now closely monitoring whether the cryptocurrency can maintain this level and build additional momentum toward testing its all-time high records.
