Bybit Crypto Insights Report: Bitcoin is set to new highs in 2025 with a short-term target at $135,000

What happened

Bitcoin hit a new all-time high in January 2025, experiencing a maximum drawdown of $36,000. Remarkably, it took just three months for Bitcoin to recover. During this period, it showed more resilience than equities did. In contrast, altcoins have yet to make significant gains. 

As discussed in a previous report, Bitcoin remains unchallenged in this market cycle. The main factor driving this trend is clear: institutional investors are increasingly investing in cryptocurrency, and Bitcoin is the primary beneficiary of this shift.