š¢ Institutional support drives Bitcoin past the $111,000 mark
š Bitcoin hit a new all-time high, surpassing $111,000.
š° The surge was fueled by significant capital inflows from institutional investors.
ā ļø Despite concerns of an imminent pullback, data from CryptoQuant indicates the market remains in a steady uptrend, with speculation and profit-taking indicators still at low levels.
š On-chain data shows that short-term holders are not selling, while institutional accumulation continues to growāsupporting sustainable price growth.
š Exchange-traded funds (ETFs), led by BlackRockās āIBITā fund, have recorded consistent positive inflows, with holdings exceeding 636,000 BTCāmore than all other U.S. funds combined.
š Analysts suggest this rally is structurally different from previous cyclesādriven by institutions rather than retail, and fueled by a maturing market and increasing recognition of Bitcoin as a store of value.
š® Projections indicate Bitcoin could reach $115,000 or even $120,000 in the near term, as retail participation remains relatively weak.
