Bitcoin Hits $109K: David Sacks, Peter Brandt React to Historic High

David Sacks, investor and co-host of the All-In podcast, captured the moment succinctly:

“Stablecoin legislation is about to pass the Senate, and Bitcoin just hit a new all time high.”

Sacks’ post highlights the growing synergy between regulatory progress and market momentum, as the GENIUS Act—landmark U.S. stablecoin legislation—gains bipartisan traction in Washington. Market participants see this as a pivotal step toward mainstream crypto adoption and a more secure framework for digital dollars.

Veteran trader Peter Brandt also weighed in on Bitcoin’s price action, noting that while new all-time highs (ATHs) are not technically significant on their own, they are essential to confirming the health of a bull market.

“Bull markets make ATHs all the time,” Brandt said. “It is the definition of a bull market.”

READ MORE:

Bernstein Predicts $330 Billion Corporate Bitcoin Allocation in Next 5 Years

He suggested that Bitcoin may be on track to hit $125,000 to $150,000 by the end of August, citing a strong breakout pattern on his technical chart—complete with a bull flag, double top retest, and a confirmed inverse head & shoulders pattern.

With fundamentals and technicals aligning, and macro conditions favoring digital assets, Bitcoin’s breakout may just be the beginning of a broader revaluation. Analysts now watch whether regulatory clarity—once feared—might instead become the fuel for the next leg up.

The post Bitcoin Hits $109K: David Sacks, Peter Brandt React to Historic High appeared first on Coindoo.