Bitcoin finally reached a new high last night. This round of the bull market belongs to institutional investors, with no relation to retail investors, who have mostly missed out. At 110,000 USD for Bitcoin, institutions are still buying and increasing their positions frantically, which clearly indicates that these sufficiently smart teams see the future value of Bitcoin and are determined to buy and increase their positions despite the overwhelming situation.
As long as Bitcoin stabilizes above 110,000 USD, the subsequent altcoins will also see a rebound. It is important to pay close attention to altcoins; the current risk lies in whether Bitcoin can stabilize.
