Bitcoin's price hit a new all-time high of $112,000, prompting a broader crypto market rally following weeks of consolidation around $109,000.
Analysts predict a potential rally towards $116K–$120K if $112K becomes a strong support level, with interim targets at $113K, $115K, and $120K.
Inflows into U.S. spot Bitcoin ETFs exceed $50 billion, with BlackRock’s IBIT contributing significantly, supporting Bitcoin's rally.
Investors are monitoring BTC's next moves closely, with a focus on maintaining bullish momentum above $112K and potential downside towards key support levels if rally fails.