BTC Surges 2.61% to $121,728 as Trading Volume Jumps 48% Amid Mining Chip Anticipation

Bitcoin (BTCUSDT) has surged 2.61% in the past 24 hours, reaching $121,728.48 on Binance, with a notable increase in trading volume and bullish momentum. The price rise is attributed to renewed market optimism following Bitcoin’s breakout above the $121,000 level, increased corporate interest highlighted by advocates such as Michael Saylor, and anticipation surrounding Block’s upcoming Bitcoin mining chip launch, which supports decentralized mining. Additional factors include strong support above $118,000 and heightened activity from institutional and retail investors, as evidenced by a 48% jump in 24-hour trading volume. Bitcoin’s market capitalization stands at $2.373 trillion, with a circulating supply of 19.90 million BTC, and the asset remains the top-ranked cryptocurrency by market cap.