Bitcoin continues to defy expectations as it pushes to new all-time highs, recently surpassing the $110,000 mark. The surge has triggered a broader market rally, lifting the prices of Ethereum, Dogecoin, and several other altcoins. Amid the ongoing bullish momentum, veteran trader Peter Brandt has forecasted a further 37% gain, predicting Bitcoin could reach as high as $150,000 by August 2025.

Bitcoin Breaks $110,000: Market Sentiment Turns Greedy

Bitcoin’s latest rally saw the top cryptocurrency soar past $110,000, establishing a new record just hours after topping its previous high of $109,241. This milestone, achieved shortly after U.S. President Donald Trump’s second-term inauguration, has  widespread excitement among retail and institutional investors alike.

Bitcoin’s trading volume spiked by 136% in the past 24 hours, highlighting growing market participation. According to the Crypto Fear and Greed Index, the market remains firmly in “Greed” territory, indicating elevated investor confidence and continued buying pressure.

In tandem with Bitcoin’s rise, Ethereum reclaimed the $2,600 range, with its trading volume rising by over 50%. Ethereum now commands 9% of the overall crypto market dominance, even as Bitcoin’s share narrows slightly to 63.2%.

Dogecoin and Altcoins Follow Bitcoin’s Lead

Dogecoin was among the top performers in the altcoin space, climbing more than 8% within 24 hours to trade near $0.24. The coin’s momentum is seen as a reflection of growing retail enthusiasm, and it continues to benefit from broader market liquidity.

Several other altcoins saw double-digit gains, with Dogwifhat (WIF), Monero (XMR), and Core (CORE) each jumping over 11% during the same period. As a result, the global cryptocurrency market capitalization has increased by nearly 2%, reaching $3.41 trillion.

Derivatives Data Indicates Bullish Bias

Bitcoin’s surge is also evident in the derivatives markets. Open Interest (OI) in BTC futures jumped 16.73% over the last 24 hours to a record $78.89 billion, reflecting heightened speculative interest. Over half of active BTC futures contracts remain long, showing traders’ conviction in further upside.

Liquidation data supports this bullish narrative. More than $232 million in short positions were wiped out over the past day, with total crypto liquidations nearing $403 million. If Bitcoin continues its rally to $112,000, nearly $713 million in additional BTC shorts could face liquidation.

Veteran Trader Predicts $150K BTC by August

Peter Brandt, a well-known technical analyst and trader, responded to Bitcoin’s new all-time high with enthusiasm. In a social media post, Brandt remarked, “Bull markets make all-time highs all the time. It’s the definition of a bull market.”

According to Brandt, Bitcoin could be on track to reach between $125,000 and $150,000 by the end of August 2025. His forecast aligns with ongoing bullish market sentiment and increasing institutional involvement.

Brandt’s prediction comes as more analysts revise their BTC price targets upward, citing favorable macroeconomic conditions, ETF inflows, and sustained demand amid limited new supply following the April halving event.

Ethereum Reclaims Momentum Ahead of ETF Buzz

Ethereum’s recovery toward the $2,600 level is seen as part of a broader rotation into quality altcoins. With the growing conversation around Ethereum-based ETFs, institutional interest in the asset appears to be rising.

Ethereum’s fundamentals continue to improve, with Layer 2 networks expanding and the Ethereum ecosystem attracting increasing DeFi and NFT activity. Should Bitcoin maintain its upward trend, Ethereum could potentially challenge the $3,000 resistance in the near term.

Dogecoin Gains Steam with Retail Support

Dogecoin’s climb above $0.24 highlights the return of speculative interest among retail traders. The driven asset, which often rallies in tandem with Bitcoin’s momentum, has become a favored choice for short-term traders seeking quick gains.

While Dogecoin remains highly volatile, recent activity suggests that it could revisit its previous highs near $0.30 if the current market strength persists.

What’s Next for Crypto?

As the crypto market eyes new highs, investors and analysts alike are closely monitoring several key catalysts. These include:

• Macroeconomic shifts such as interest rate policy and inflation trends.

• Institutional inflows from ETFs and large-scale funds.

• Regulatory developments in major markets like the U.S., EU, and Asia.

• Technological upgrades across major blockchain networks, including Ethereum 2.0 progress and Bitcoin’s Layer 2 adoption.

With bullish momentum intact and Bitcoin’s dominance setting the tone, the broader crypto market may be gearing up for another leg higher. Traders are advised to stay alert for potential pullbacks but maintain a strategic long-term view in line with fundamentals and technical signals.