<ul data-eligibleForWebStory="false">Bitcoin price sets a new all-time high above $113,700 on Thursday, signaling a potential bullish momentum in the coming days and weeks.Factors contributing to the price surge include institutional support, rising global money supply, and increasing Open Interest in the futures market.The heightened volatility led to over $325 million liquidated from Bitcoin's leveraged positions in the past 24 hours.Technical analysis suggests the altcoin market may be entering a parabolic phase, with Ethereum's price also surging amidst Bitcoin's rally.