Bitcoin surpassed $118,000 this Friday, thus breaking its previous peak. Several newspapers mention a high around $118,600 according to CoinGecko, and levels reaching up to $118,800, before a slight correction.
đ Why this new record?
1. Massive influx of institutional investors
Acquisitions by pension funds, spot ETFs, and other large institutions create strong demand and long-term confidence.
2. Favorable macroeconomic context
Signals from the Fed in favor of rate cuts, coupled with a weaker dollar, have fueled appetite for assets deemed riskier, such as BTC.
3. Overall bullish sentiment
Cryptocurrencies are progressing in tandem with tech stocks. This 'risk-on' climate often favors cryptos in their upward momentum.
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