Bitcoin Sets All-Time High At $118,909, Ethereum, XRP Surge 8% Each
Bitcoin (CRYPTO: BTC) has surged to a new all-time high of $118,909 on Coinbase on Friday morning propelled by steady institutional buying, but analysts warn the rally could face pressure from geopolitical and inflation-driven uncertainties in the weeks ahead.
What Happened: The world’s largest cryptocurrency jumped 6.3% in the last 24 hours, breaking out of the sideways trading pattern that has persisted for much of the past two months.
Stephen Wundke, Director of Strategy and Revenue at Algoz, pointed to the continued inflows into U.S.-listed spot Bitcoin ETFs, amounting to $15 billion in net buying over the past two months, as a critical driver of upward momentum.
“Institutions have kept buying BTC ETFs,” Wundke told Benzinga. “Traders who lack …
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