Bitcoin News: Bitcoin Nears All-Time High at $122K as ETF Inflows and White House Support Fuel Rally
Key Takeaways
Bitcoin surged to $122,150, just 1% below its $123K all-time high.
Rally follows bullish U.S. executive order hinting at crypto in 401(k) plans.
Spot BTC ETFs recorded $773M in net inflows over the past three trading days.
Market sentiment remains in “Greed” territory but not overheated.
Bitcoin’s Latest Surge
Bitcoin (BTC) rallied 3.3% on Monday to $122,150, its highest level since setting a record near $123,000, driven by bullish policy signals and sustained ETF demand. The move comes after weeks of low volatility between $115,000 and $120,000, a range that Henrik Andersson, CIO of Apollo Crypto, said was “just a matter of time” before breaking higher.
The breakout followed three straight days of spot Bitcoin ETF inflows totaling $773 million, alongside U.S. President Donald Trump’s executive order to explore allowing crypto in 401(k) retirement plans — potentially unlocking access to a $9 trillion investment pool.
Institutional Momentum Building
Treasury allocations also remain a tailwind. MicroStrategy founder Michael Saylor hinted his company will expand its $76.8 billion Bitcoin holdings, tweeting: “If you don't stop buying Bitcoin, you won't stop making money.”
Market Sentiment Still Measured
The Crypto Fear & Greed Index sits at 70/100, signaling “Greed” but not extreme exuberance. Google search interest for Bitcoin has risen modestly, still below peaks seen in November 2024 after the U.S. election.
Broader Market Impact
Bitcoin’s surge narrowed the performance gap with Ether (ETH), which rose 1.8% to $4,310 over the last 24 hours. Together, BTC and ETH’s gains pushed total crypto market capitalization to $4.14 trillion, a new record, according to CoinGecko.
Next Resistance Level
If Bitcoin breaks $123,000, analysts see open air toward $130,000 before encountering major resistance. However, a failed breakout could see price retesting support near $119,000.