BTC Surges to $124K Amid Easing U.S. Inflation, Whale Accumulation, and El Salvador Milestone

Bitcoin (BTCUSDT) experienced notable volatility in the past 24 hours, with the price reaching a high of $124,545.6 before declining to $117,900.01, representing a 4.01% decrease from the previous day's open. The recent price movements are primarily attributed to easing U.S. inflation data and growing expectations of a potential Federal Reserve rate cut, which have influenced market sentiment. Additional factors include increased institutional interest, significant whale accumulation, and news such as El Salvador's Bitcoin reserves reaching a new all-time high in USD terms, as well as corporate acquisitions and technological developments in Bitcoin mining. The current market overview shows robust trading activity, with 24-hour volumes ranging from 16,930 BTC to 31,012.89 BTC and a market capitalization between $2.35 trillion and $2.41 trillion, while the circulating supply stands at approximately 20 million BTC.