Bitcoin continues its upward trend, reaching a new all-time high of over $118,000. This surge comes as institutional investor interest grows alongside overall market momentum.
Bitcoin Market and New Records
As of now, Bitcoin's price stands at $117,890.7, with a 24-hour trading volume of $127.42 billion. In the last 24 hours, a total of $963 million in short positions have been liquidated, marking one of the largest short squeezes in Bitcoin history.
Growth of BlackRock's Bitcoin ETF
The Bitcoin ETF owned by BlackRock has become the fastest-growing ETF to reach $80 billion in assets, achieving this milestone in just 384 days since its launch. This highlights the growing interest in Bitcoin as a financial asset.
Future Prospects and Trends
Reports suggest that Bitcoin could reach $120,000 soon if bullish sentiment persists. Conversely, increased sell orders may lead it to decline to lower support levels of $115,000 or $110,000.
Recent achievements of Bitcoin, including its price increase and active investments from institutional companies, spark discussions about the future prospects of the cryptocurrency market.
