Bitcoin reached an all-time high today, with the price breaking through the $112,000 mark, currently reported at about $112,660. On Wednesday, Bitcoin surged between $111,988.90 and $112,021, then retraced, and is currently still maintaining around the $111,000 range. Since the beginning of the year, the price has accumulated a rise of over 18%~19%.

The momentum for this increase mainly comes from investors' renewed enthusiasm for high-risk assets and continued inflows of institutional funds. Traditional financial institutions and publicly listed companies continue to increase their holdings of Bitcoin, driving up demand. In particular, public fund companies in Q2 have cumulatively increased their holdings by about 159,107 Bitcoins, with a total holding of approximately 847,000 coins, valued at about $91 billion.

U.S. regulatory policies may also play a 'booster' role. The Trump administration has recently had a relatively friendly stance towards digital assets, promoting the application of exchange-traded funds (ETFs) and initiating a 'strategic Bitcoin reserve.' The Trump Media Technology Group even plans to issue various cryptocurrency ETFs, including Bitcoin and Ethereum.

From a technical perspective, Bitcoin's price has broken through the key resistance range of $110,000—$112,000, but there are signs of retracement, reflecting some profit-taking pressure from investors. Analysts suggest closely monitoring support levels (such as $107,000 and $100,000) to assess the stability of the price.

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