Bitcoin Hits All-Time High of $120,000 as Bullish Momentum Builds

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Bitcoin Hits All-Time High of $120,000 as Bullish Momentum Builds

Bitcoin has surged past the historic $120,000 mark for the first time, fueled by growing investor optimism and increasing institutional interest. The world’s largest cryptocurrency is now up approximately 30% since December and has more than doubled over the past year, according to Bloomberg.

According to George Mandres, Senior Trader at XBTO Trading LLC, “This move signals a maturing outlook on Bitcoin — not just as a speculative asset, but as a macro hedge and structurally scarce store of value.” He notes that this latest rally is driven by significant institutional inflows into spot Bitcoin and Ethereum ETFs, and lacks the extreme volatility seen in previous bull runs.

Rachael Lucas, a crypto analyst at BTC Markets, highlights that the real test lies at $125,000. “Strong ETF demand is the key driver behind this renewed upward trend,” she said.

Bitcoin had been trading in a narrow range around $100,000 for months, following a post-election rally triggered by Donald Trump's re-election. While his pro-crypto stance created some optimism, uncertainty around broader economic policies had tempered gains—until now. With risk-on sentiment returning to global markets and equities hitting new highs, Bitcoin has regained momentum.

The bullish move is also lifting smaller tokens: Ether is up 1.5%, while XRP and Solana gained around 2.7% as of midday Monday in Singapore.

Crossing the $120,000 milestone marks a significant chapter in the cryptocurrency's evolution, solidifying its role in the emerging digital economy and reigniting conversations around its mainstream adoption.

Source: Bloomberg

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