Bitcoin Price Achieves New Weekly Record, Altcoins Rise Along
The Bitcoin price reached an impressive milestone last week, recording its highest weekly close ever at $119,450. This surpasses the previous record of $119,100 from earlier this month. This significant movement raises questions about its underlying causes and, naturally, what further implications it holds for the price in the coming period. The journey to this new record began Friday with a recovery from $115,000 to $117,000, followed by a further climb to $118,000 on Saturday. However, the biggest impulse came on Sunday, driven by positive news from the geopolitical arena. In this article, we'll delve deeper into the driving forces behind this surge, the broader market's reaction, and what this means for the future development of the Bitcoin price.
Trade War Truce Extension (US-China): Late Sunday afternoon, it was announced that the United States and China had extended their trade war truce by another three months. This news immediately triggered a sharp price jump for Bitcoin, well above $119,000.
EU-US Trade Deal ('Biggest Deal Ever'): A few hours later, more good news followed. The US government and the European Union announced a new trade agreement, even called "the biggest deal ever reached" by former President Donald Trump. This agreement brought great relief to investors and contributed significantly to the further rise of Bitcoin.
The combination of these positive geopolitical developments has significantly boosted investor confidence in risky assets, including Bitcoin.
Other significant factors in the price increase include ongoing investments from institutional investors, who now collectively own a significant percentage of the total Bitcoin supply. The recent Crypto Week also impacted overall crypto sentiment. Furthermore, President Trump signed an executive order in March 2025 establishing a strategic Bitcoin Reserve for the United States, sending a strong signal of government trust in digital assets. Clarity on regulation and political support reduces uncertainty for large investors.
This surge could also be a lingering effect of the recent Bitcoin halving. Although it occurred a year ago, it's not uncommon for its major effects to become visible only months to a year later. This "halving effect" contributes to long-term upward pressure on the price.
BNB, the fourth-largest cryptocurrency, made history with a 5.98% increase, reaching its all-time high of over $843.
Other major coins like XRP, Solana (SOL), and Dogecoin (DOGE) all saw increases of just over 2%.
Smaller projects like Optimism's OP token and memecoin SPX6900 showed impressive gains of 13.43% and 12.06% respectively.
The overall market is in the green, indicating widespread positive investor sentiment.
The market is eagerly watching to see if recent positive impulses are sufficient to break through this resistance and continue the upward trend. Investors will closely monitor further developments in global trade policy and the macroeconomic climate, as these can directly influence the volatility and direction of the Bitcoin price and the broader cryptocurrency market.
Disclaimer: This is not financial advice. Always consider your own investigation and consult professional advice.
What Caused the Bitcoin Price Surge?
The recent surge in the Bitcoin price is primarily attributable to two significant macroeconomic developments:The combination of these positive geopolitical developments has significantly boosted investor confidence in risky assets, including Bitcoin.
Other significant factors in the price increase include ongoing investments from institutional investors, who now collectively own a significant percentage of the total Bitcoin supply. The recent Crypto Week also impacted overall crypto sentiment. Furthermore, President Trump signed an executive order in March 2025 establishing a strategic Bitcoin Reserve for the United States, sending a strong signal of government trust in digital assets. Clarity on regulation and political support reduces uncertainty for large investors.
This surge could also be a lingering effect of the recent Bitcoin halving. Although it occurred a year ago, it's not uncommon for its major effects to become visible only months to a year later. This "halving effect" contributes to long-term upward pressure on the price.
How is the Market Responding?
The market has reacted enthusiastically to these favorable developments, not just for Bitcoin but also for other cryptocurrencies. As often happens in a bull market, altcoins sometimes perform even better than Bitcoin. For example, Ethereum (ETH) rose by more than 3.34% in the past 24 hours and, for the first time in over half a year, broke the $3,900 barrier, bringing the important resistance of $4,000 within reach. Other coins also reacted:The overall market is in the green, indicating widespread positive investor sentiment.
What Will Bitcoin Do Next?
Attention is now focused on Bitcoin's next significant resistance level: the $120,000 mark. This price has often caused problems in recent weeks and will be a crucial hurdle to overcome. Reaching this milestone could pave the way for approaching its all-time high of $123,200.The market is eagerly watching to see if recent positive impulses are sufficient to break through this resistance and continue the upward trend. Investors will closely monitor further developments in global trade policy and the macroeconomic climate, as these can directly influence the volatility and direction of the Bitcoin price and the broader cryptocurrency market.
Disclaimer: This is not financial advice. Always consider your own investigation and consult professional advice.