Bitcoin Price Surges Past $122,000, Prompting Cautions from Experts

The cryptocurrency market is experiencing a significant upswing, with top coins extending their near-vertical rallies that started over two weeks ago. Bitcoin has surpassed $122,000 for the first time, outperforming gold to become the best-performing asset in 2025. The crypto community is identifying potential bitcoin price targets between $140,000 and $200,000. However, some experts are warning against getting caught up in the bull momentum, citing the potential for sharp corrections following parabolic moves. Marcin Kazmierczak, co-founder of Redstone, emphasized the importance of approaching these milestones with discipline rather than euphoria, noting that the market has not seen a correction in over 47 days and volatility remains a constant companion for bitcoin. Options market activity on Deribit suggests traders are cautious, with one-month risk reversals being flat despite record-high spot prices. Looking ahead, the upcoming 'Crypto Week' in Congress may bring discussions on regulatory clarity, which could have a positive impact on top tokens and stablecoins. The real opportunity, according to Kazmierczak, lies in building infrastructure for programmable money and asset tokenization rather than speculative trading. Tuesday's US inflation data may not significantly impact crypto, but potential dollar strength could affect the market. Key events to watch include token events, conferences such as the CoinDesk Policy & Regulation conference, and market movements.