<ul><li>Bitcoin hit a historic high of $109,500 on Wednesday, surpassing its previous record and driven by strong buying pressure in the market.</li><li>The surge in Bitcoin's price can be attributed to favorable macro factors, including easing regulatory pressures in the US and positive political and economic developments.</li><li>Analysts predict that Bitcoin could reach between $117,000 and $120,000 in the near future, potentially entering a new price discovery phase.</li><li>BTC is currently aiming to consolidate above $109,000 to establish a new support level for the upcoming uptrend.</li></ul>

BREAKING: Historic $109,500 Bitcoin High: Here’s What Analysts Predict Next

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