Bitcoin (BTC) surged previous $122,000 on Monday, coming inside 1% of its all-time excessive of $123,218. The rally has been fueled by excessive spot Bitcoin ETF inflows, renewed company accumulation, and a pro-crypto coverage shift from the White House.
Over the final three days of buying and selling, U.S. spot Bitcoin ETFs absorbed $773 million in internet inflows, based on Farside Investors. BlackRock’s IBIT fund now holds $80 billion in BTC, closing in on the $94 billion held by the most important gold ETF.
On the company entrance, Michael Saylor’s MicroStrategy signaled continued Bitcoin purchases, increasing its already huge $76.8 billion treasury. Henrik Andersson, CIO at Apollo Crypto, described the transfer above $122K as “only a matter of time” after a month-long consolidation between $115K and $120K.
Trump’s Pro-Crypto Policies Ignite Wave of Bitcoin Optimism
A significant catalyst has been President Donald Trump’s latest govt order enabling 401(ok) retirement plans to spend money on cryptocurrencies. This coverage may open up $9 trillion in retirement belongings to Bitcoin, doubtlessly driving vital long-term demand.
Technical indicators stay bullish. The every day RSI sits at 67.7, signaling robust momentum with out coming into overbought territory, whereas the MACD has posted a bullish crossover.
Analysts imagine a decisive break above $123K may set off algorithmic shopping for and retail FOMO, pushing BTC towards the $126K–$129K vary.
BTC's worth tendencies to the upside on the every day chart. Source: BTCUSD on Tradingview
Broader Crypto Market Hits $4.14 Trillion
Bitcoin’s rally has helped raise the whole cryptocurrency market capitalization to an all-time excessive of $4.14 trillion. Ethereum (ETH) additionally surged, crossing $4,300 for the primary time since 2021, supported by $4 billion in institutional inflows and the launch of ETH-focused ETFs.
Despite the bullish development, sentiment stays measured. The Crypto Fear & Greed Index stands at 70/100, indicating enthusiasm however avoiding excessive euphoria. Google search curiosity for Bitcoin has additionally risen modestly, suggesting room for additional retail participation.
With institutional inflows robust, company adoption rising, and regulatory readability bettering, analysts say Bitcoin is well-positioned for one more leg increased. A clear break above $123K may open the door to $130K within the close to time period, and doubtlessly $150K by year-end if macroeconomic circumstances stay favorable.
Cover picture from ChatGPT, chart from Tradingview
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