Bitcoin's recent price surge is making headlines, with its value crossing $121,000 and reaching a new all-time high. Several factors are driving this momentum ¹ ²:
- *Institutional Demand*: Growing interest from big financial players like hedge funds and corporations is contributing to the surge. They're viewing Bitcoin as a store of value and a hedge against economic uncertainty.
- *Technical Breakout*: Bitcoin's price has broken through key resistance levels, signaling a strong bullish trend. Analysts predict it could reach $120,000 or even $140,000 if the momentum continues.
- *Positive Momentum*: The recent price hike follows a weekly gain of nearly 10%, with experts predicting further growth.
- *Regulatory Optimism*: Investor confidence is boosted by expectations of favorable digital asset regulations, particularly with upcoming U.S. House debates.
- *ETF Inflows*: Huge investments in spot Bitcoin ETFs have contributed to the price surge, with a staggering $1.18 billion flowing into these funds in a single day.
The current price of Bitcoin is around $121,970.02, with a 3.54% increase in the last 24 hours. The total cryptocurrency market cap has surpassed $3.78 trillion, driven by institutional inflows and regulatory clarity ³ ².
