The price of Bitcoin surpasses $110,000 after recording its new highest levels at $BTC

Will it reach $120,000 this month?

It seems that the recent surge in Bitcoin's price was supported by a combination of factors, including easing concerns about the macroeconomy, renewed institutional investments, and an increasing appetite for risk.

Key points:

Bitcoin's price successfully broke its previous highest levels after surging more than 40% over 6 weeks.

The calming of trade tensions and American trade deals has sparked investors' appetite for risk.

The continued influx of investments into Bitcoin ETFs suggests that the upward wave has not yet reached its limits.

Bitcoin's price (Bitcoin-BTC) managed to break its previous high, reaching $111,861.22 early Thursday, marking a strong surge that pushed it up over 40% in the last 6 weeks due to the return of investments to the crypto sector, thanks to the easing of trade tensions between the U.S.; additionally, the increase in investments flowing into Bitcoin exchange-traded funds (Bitcoin ETFs) and the opening of short positions worth $1.2 billion indicate exciting events ahead.

These increases came after the unexpected truce regarding tariffs between Washington and Beijing and the reaching of a limited trade agreement with the United Kingdom, which made the macroeconomic outlook brighter.