#BTCBreaksATH Bitcoin has indeed broken its all-time high, with its current price sitting at $118,753.17. This surge represents a 1.11% increase, with the cryptocurrency's market capitalization reaching $2.34 trillion. Here's a breakdown of the current market situation ¹:

- *Current Price*: $118,753.17

- *Percent Change*: 1.11% increase

- *Market Capitalization*: $2.34 trillion

- *24-hour Trading Volume*: Not available in the search results, but the market is showing strong investor optimism

*Key Factors Driving Growth:*

- *Institutional Adoption*: Growing demand from institutional investors, including spot Bitcoin ETFs, which have absorbed significant amounts of BTC since their launch.

- *Supply Crunch*: Bitcoin's supply is dwindling, with exchange balances at low levels, further fueling the price surge.

- *Macroeconomic Indices*: Favorable market conditions, including potential shifts in monetary policy, could contribute to Bitcoin's continued growth.

*Future Price Targets:*

- Some analysts predict Bitcoin could reach $120,000 or more in the near future, driven by increased institutional investment and limited supply.

- Long-term projections suggest potential targets of $200,000 or even $352,000, assuming historical growth patterns continue ² ³.