Bitcoin surged to a new all-time high above $111,000, driven by factors like growing institutional demand and positive regulatory signals from the US.
The cryptocurrency market saw smaller tokens like Ether also benefiting from the bullish sentiment, with Bitcoin reaching a record of $111,878.
Optimism around Bitcoin was fueled by progress on a stablecoin bill in the US Senate and increasing demand from institutional players like MicroStrategy.
The current Bitcoin rally is supported by quantifiable demand and supply dislocations, with experts noting a flight to quality within the digital asset space.