Bybit’s Shunyet Reacts to Bitcoin’s ATH, Says ‘$125K Is Within Reach’ in Q2

On May 23, Shunyet Jan, the head of Derivatives at Bybit, the world’s second-largest cryptocurrency exchange by trading volume, commented on Bitcoin’s recent bullish move, which saw it achieve a new all-time high on Thursday.

According to Shunyet, the historic rally is attributable to a powerful alignment of market catalysts and macroeconomic shifts, expressing beliefs that Bitcoin reaching a high of $125K during the second quarter of 2025 is possible.

“Bitcoin’s climb to this all-time high underscores a transformative moment in the evolution of global finance,” said Shunyet. “We’re seeing a unique convergence of factors—regulatory clarity, institutional inflows, and macroeconomic shifts—that are accelerating mainstream adoption,” says Shunyet.

Key Drivers Behind Bitcoin’s Rally

Shunyet believes that the massive Bitcoin rally has been spurred by three major factors: recent regulatory clarity on stablecoins, sustained inflows into spot ETFs, and a weaker US Dollar and inverse correlation.

Shunyet highlighted the emergence of comprehensive legislation like the GENIUS Act, which has established clearer guardrails for stablecoins. 

While this fosters greater institutional confidence and reinforces the foundational infrastructure needed for broader crypto adoption, it has also fuelled Bitcoin’s recent price ascent.

Furthermore, the consistent capital inflows into spot Bitcoin ETFs indicate that institutional investors are embracing Bitcoin as a legitimate asset class, spurring increased demand for Bitcoin and a rapid price surge.

Amid this market rally, Shunyet believes sentiments could shift if high interest rates and lingering macroeconomic uncertainty continue, limiting the upside potential for smaller altcoins in the near term.

Nonetheless, Shunyet has made a bullish prediction for Bitcoin, saying;

“If current trends continue, our analysis suggests Bitcoin could reach $125,000 by the end of Q2. We remain bullish on Bitcoin’s role in shaping the future of finance.”