$BTC Bitcoin surged to a new all‑time high near $112,000 before retreating slightly to around $111,300 amid profit‑taking following a tech‑stock–led rally . Broad macro factors—including optimism around potential Fed rate cuts and strong inflows into crypto ETFs—are fueling further upside, with analysts eyeing $120K+ as plausible next targets (). Institutional adoption continues to grow, evidenced by significant corporate and treasury purchases . Nevertheless, some caution remains: technical indicators signal possible short‑term exhaustion, and macro risks could trigger pullbacks .

Investors should track key levels ($112.4K resistance, ~$109K support) and broader policy developments, especially on U.S. rates and ETF flows.