#FOMCWatch The price of Bitcoin conquered a new ATH of $111,999 this Wednesday.
$BTC 💲✨💲✨💲✨💲✨💰
#BinanceHODLerLA This Wednesday, the price of the largest cryptocurrency, Bitcoin, achieved a new all-time high (ATH) of $111,999 per coin. With this, BTC leaves behind the previous record of $111,970 that it reached on May 22 of this year. This momentum demonstrates the resilience of the asset, which managed to overcome recent adverse conditions.
For several days now, the pioneering cryptocurrency has maintained an upward trend in its quotation, which draws the attention of analysts and market observers. However, several important resistances stood in its way. The determination of investors allowed those barriers to be overcome after multiple attempts.
The key to this rise that Bitcoin is now presenting is the massive buying by whales, retail investors, and institutional wallets. Although recently some whales took profits, the cumulative trend remained strong, especially in the last two weeks. In turn, the spot BTC ETFs on the US stock market continued to record positive net flows.
Another possible factor behind the momentum was the statements of Trump administration advisor Peter Navarro against the Federal Reserve's monetary policy. Navarro labeled Jerome Powell as "the worst chairman in the history of the Fed" and claimed that the Fed should cut rates in July.
These factors combined in a relatively short but intense period, characterized by strong capital injections. The result was that the price of Bitcoin reached a new high, just below the symbolic threshold of $112,000. The question that many investors are now asking is whether this momentum has room to continue.