According to data from CoinMarketCap, the world’s largest cryptocurrency, bitcoin (BTC), has reached a new all-time high, breaking past the $113,700 mark for the first time in history. It is up nearly 3.5% in the last 24 hours. BTC’s market capitalization stands at over $2.26 trillion, with its 24-hour trading volume above $65 billion in a single day.
This fresh milestone comes after several weeks of sideways movement, showing that the apex coin has regained strong momentum. Many traders and analysts believe this rally could continue, with $120,000 now seen as the next major price target.
ETFs and Institutional Investors Boost Price
One of the notable reasons behind the upsurge in BTC price is the massive influx of traditional investors into the crypto market via U.S.-approved spot bitcoin exchange-traded funds (ETFs). Over the past week, U.S.-based spot Bitcoin ETFs recorded $408 million in inflows, the highest in nearly a month. This shows that larger investors and institutions are putting money into BTC through regulated financial products.
Additionally, many institutions across continents have decided to join the moving strategic bitcoin adoption train by raising funds to scoop sats of the leading crypto as a hedge against inflation. Meanwhile, they also take a stand to enjoy profits from the forthcoming crypto market upsurge.
At the same time, the market is seeing higher buying activity from everyday investors who don’t want to miss out on another bull run.
Altcoins Join the Uptrend
Bitcoin’s rally is helping to lift the entire crypto market. The total cryptocurrency market cap has now risen, reflecting broader optimism in the space. Other top coins are also performing well. Ethereum (ETH) has bounced back strongly, with prices heading toward $3,000.
Similarly, Solana (SOL) has soared to $160, a more than 5% increase within the past seven days. Ripple (XRP) was not left behind in the play, as it has surged by over 10% this week to reach $2.5.
BTC to $180k Soon?
Famous crypto market enthusiasts have dropped predictions on what to expect from BTC in the long-awaited 2025 bull run. American asset manager and crypto ETF issuer VanEck has predicted that BTC will soar to $180,000, citing that Donald Trump’s election success marks the beginning of a new era with frameworks centered around a strategic Bitcoin reserve.
Meanwhile, with ETF inflows rising and global interest growing, there are still high chances of BTC climbing to the predicted heights.
