Bitcoin hits new all-time high, passing $112,000

Bitcoin hit a new all-time high today, crossing $112,000 for the first time, passing the previous record of $111,970 reached on May 22, aka Bitcoin Pizza Day.

“Bitcoin has performed far better than the doom-and-gloom proponents had been predicting over the last several months, and reaching an all-time high during such macroeconomic and geopolitical uncertainty is a testament to it becoming a globally recognized and accepted asset,” Sidney Powell, CEO of Maple Finance, told Sherwood News. 

Powell said that while he’s not big on predictions, he “would not be surprised to see bitcoin surpass $150,000 by the end of the year.”

Geoff Kendrick, global head of digital assets research at Standard Chartered Bank, wrote in a July 2 note that bitcoin will reach another all-time high “to around USD 135,000 by end-Q3 and to USD 200,000 by end-Q4.”

He added that he expects the second half of 2025 to be bitcoin’s “best ever” thanks to ETF and corporate treasury buying, Powell’s potential “early replacement,” the passage of a stablecoin bill, and the broadening of sovereign buying.

Others are even more bullish, projecting bitcoin to reach $200,000 to $230,000 by the end of the year.

“Quantitative models estimate bitcoin’s hypothetical ‘fair value’ amid the current sovereign default probabilities at around 230k USD today. This estimation is dovetailed by bitcoin’s increasing scarcity which also points to an ascend towards 200k USD by the end of the year,” Bitwise researchers André Dragosch and Ayush Tripathi wrote on June 10.