Bitcoin continuously hits new highs: When the "king" never gets tired

Fellow traders, is anyone like me - waking up every morning to see Bitcoin hitting new highs? From $112k, then $115k, $118k and now heading towards $120k! Honestly, even someone who's been "eating" crypto for a long time like me is "stunned" by this momentum.Today I want to share honest insights about this continuous ATH phenomenon - is this a "bubble" or are we witnessing historic transformation of Bitcoin?

When price action "exceeds" all predictions

Technical analysis: Classic "parabolic advance"

Pattern recognition: From the Price Action perspective Al Brooks taught, this is the strongest trending market I've ever seen. Each pullback is only 2-3%, then continuation to new highs.Characteristics of parabolic move:

• Higher highs, higher lows: Continuously non-stop
• Volume expansion: Volume increases with each new high
• Time compression: Distance between highs getting shorter
• Breakout momentum: Each old resistance becomes new support

Bob Volman once said: "When the market wants to go somewhere, it will find a way." Current Bitcoin is proof of this statement.

Comparison with previous parabolic runs

2017 Bull Run: $1,000 → $20,000 (20x in 12 months) 2020-2021: $10,000 → $69,000 (7x in 18 months) 2025 (current): $40,000 → $118,000+ (3x in 6 months)Important differences:

• Institutional backing: ETF, corporate adoption, government reserves
• Regulatory clarity: No longer "afraid of being banned" like before
• Market maturity: Professional traders, sophisticated products
• Global acceptance: Bitcoin has become mainstream asset

Driving forces: Why Bitcoin "flies" non-stop?

Institutional money flow "intense"ETF flows update:

• BlackRock IBIT: $89 billion assets under management
• Fidelity FBTC: $12.8 billion AUM
• Total ETF inflows: $2.1 billion just this past week

Corporate treasury update:

• MicroStrategy: 226,500 BTC (~$26.7 billion)
• Tesla: 9,720 BTC (~$1.15 billion)
• El Salvador: 5,690 BTC (~$671 million)
• New entries: 12 public companies bought Bitcoin in Q3

Insight: Institutional FOMO is real. They're not buying to trade but for store of value long-term.

"Strategic reserve" narrative heating upTrump administration actions:

• Officially adding Bitcoin to strategic national reserve
• Plan to buy 1 million BTC over 5 years ($118+ billion)
• Executive order encouraging agencies to use Bitcoin

Domino effect:

• Brazil: Considering 5% reserves into Bitcoin
• Germany: Stopped selling Bitcoin from government holdings
• Japan: Evaluating Bitcoin for pension funds
• UAE: Dubai considering Bitcoin treasury allocation

Simple math: If just 10 G20 countries allocate 1% GDP into Bitcoin = $800 billion demand. Bitcoin supply only 21 million coins!

"Perfect" macro environmentMonetary policy backdrop:

• Fed dovish pivot: Interest rates starting down cycle
• Global money printing: ECB, BOJ still accommodative
• Dollar debasement fears: US debt ceiling still concern
• Inflation hedge demand: Bitcoin increasingly accepted as digital gold

Geopolitical factors:

• BRICS expansion: Alternative payment systems development
• Sanctions circumvention: Bitcoin utility in international trade
• Currency controls: Bitcoin as escape valve for capital

Psychology of "continuous ATH": Who's doing what?

Retail investor behavior

FOMO level: 9/10 - Extreme! Characteristics:

• Buying every slight dip
• Social media sentiment overwhelmingly bullish
• "Bitcoin to $200k" predictions everywhere
• Everyone becoming "crypto experts"

Red flag: When taxi drivers give investment advice about Bitcoin, that's usually a top signal.

Professional trader perspective

Hedge fund positioning:

• Long bias dominant: 80% funds bullish Bitcoin
• Leverage increasing: Average leverage 2.5x vs 1.8x last year
• Options skew bullish: Call/put ratio 3:1
• Correlation breakdown: Bitcoin decorrelating from traditional assets

Smart money indicators:

• Persistent buying: Dips bought quickly
• Low volatility: Relative stability despite parabolic moves
• Strong hands: Long-term holders not selling
• Derivative structure: Contango in futures, backwardation in options

Institutional approach

Strategy diversity:

• Buy and hold: Core allocation approach (60%)
• DCA programs: Regular accumulation (25%)
• Tactical trading: Market timing attempts (10%)
• Derivatives strategies: Covered calls, protective puts (5%)

Risk management evolution:

• Position sizing: 1-5% allocation typical
• Diversification: Bitcoin + Ethereum + other crypto
• Hedging: Using derivatives to manage downside
• Rebalancing: Systematic profit-taking protocols

Warning signs: When to be cautious?

Technical indicators flashing yellow

RSI divergence:

• Daily RSI > 80 for 2 weeks straight
• Weekly RSI approaching 90 (extreme overbought)
• Monthly RSI highest since 2017

Volume patterns:

• Selling volume increasing on green candles
• Distribution patterns starting to appear
• Professional money rotating into altcoins

Market structure concerns:

• Liquidity gaps: Bid-ask spreads widening
• Slippage increase: Large orders moving market more
• Correlation breakdown: Traditional relationships failing