Bitcoin Hits New All-Time High of $106,516
Bitcoin has reached a new milestone, closing the week at an all-time high of $106,516. This marks the largest weekly close in the cryptocurrency's history, with only 40 days in total having seen closures above $100,000.
The latest surge comes amidst increased institutional interest. Strategy, for instance, boosted its Bitcoin holdings by purchasing 196 BTC for $22.1 million, bringing its total reserves to approximately 640,031 BTC. Reliance Global Group also announced a strategic Bitcoin purchase as part of its Digital Asset Treasury initiative. Meanwhile, Sygnum Bank and Starboard Digital launched the BTC Alpha Fund, providing institutional investors with regulated access to Bitcoin yield products.
Analysts are keeping a close eye on inflows into Bitcoin-focused ETFs and the behaviour of long-term holders to gauge sustained interest. The broader Bitcoin ecosystem also shows strength, with elevated network activity and growing user engagement. Current prices place Bitcoin in a historically narrow range of time, reflecting its long-term upward trend.
Bitcoin's latest record close highlights its growing acceptance and strength in the market. Traders are closely watching the $100,000 level as a key psychological and technical zone. As institutional investment continues to flow in, Bitcoin's long-term trajectory remains a topic of keen interest.
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