Bitcoin (BTC) price hit a new all-time high above $124,000, briefly overtaking Google's market value.
Bitcoin’s Historic Milestone
The market cap of BTC briefly passed $2.45 trillion, ranking it among the world's top assets. Currently, its market cap is around $2.46 trillion, comparable to Apple and Microsoft.
Institutional Wave Fuels Demand
This price rally is fueled by institutional investors rather than retail traders. Reports indicate that 86% of institutional investors now hold or plan to buy cryptocurrencies. BlackRock is leading these investments through its iShares Bitcoin Trust managing over $90 billion in Bitcoin, while MicroStrategy has also significantly increased its holdings.
Altcoins Join the Rally
Other cryptocurrencies like Chainlink (LINK) and Litecoin (LTC) are also experiencing growth. Chainlink is gaining attention due to demand for its blockchain data, while Litecoin sees increased activity from payment providers. Toncoin (TON) benefits from its large user base in Telegram.
The outlook for Bitcoin reaching $200,000 appears increasingly viable. Altcoins like Chainlink and Litecoin are also riding the same optimistic wave, creating a positive market sentiment.
