๐ $BTC Hits New All-Time High Above $112,000!
Today, Bitcoin shattered its previous records, surging past the $112,000 mark and touching approximately $112,660. Earlier on Wednesday, BTC traded between $111,988.90 and $112,021, before pulling back slightly and now hovering around the $111,000 zone. Since the start of the year, Bitcoin has already climbed by an impressive 18โ19%.
๐ This rally is fueled by growing investor appetite for riskier assets and a steady inflow of institutional capital. Major financial institutions and publicly traded companies continue to accumulate Bitcoin, boosting demand. In Q2 alone, public funds reportedly added about 159,107 BTC, bringing their collective holdings to ~847,000 BTC, worth nearly $91 billion.
๐บ๐ธ On the policy front, favorable signals from the US may also be helping. The Trump administration has recently shown more support for digital assets, backing ETF filings and even launching a strategic Bitcoin reserve. The Trump Media & Technology Group has announced plans to offer various crypto ETFs, including for Bitcoin and Ethereum.
๐ Technically, Bitcoin has decisively broken through the $110,000โ$112,000 resistance, but some profit-taking is visible, suggesting a potential pullback. Analysts recommend watching key support levels at $107,000 and $100,000 to gauge price stability.
