Bitcoin surged to a new all-time high of nearly $112,000 amidst a Coinbase server crash, triggering bullish speculation.
Historically, Coinbase outages have preceded significant price increases for Bitcoin, which quickly rose above $111,000.
Institutional inflows into Bitcoin and Ethereum ETFs signal strong bullish sentiment in the market.
Coinbase's cryptic tweet during the outage added to speculation, with eyes on potential further gains towards $120,000 amid favorable macroeconomic conditions.