According to price data from CoinMarketCap, the world’s leading cryptocurrency, bitcoin (BTC), has seen a significant price surge within the past few trading days. Since Wednesday, it has smashed already-made records daily to create new all-time highs. On Monday, it surged past $123,00, leaving investors and bullish leveraged traders with massive profits.
At the time of writing, it trades around $122,700 and still signals a forthcoming uptrend. The market fear and greed index for BTC has also risen to 82%, signaling greed and increased interest in the leading crypto.
BTC Hits New Highs
Notably, the crypto community has anticipated a forthcoming 2025 bull run, as many investors and analysts have dropped predictions. Thus, with BTC surging to new highs, many investors who aim for massive profits continue to buy the leading crypto in large quantities, driving the value of the apex coin upwards with increased demand.
Consequently, the past week was historic for spot bitcoin exchange-traded funds (ETFs) as investors who didn’t acquire the leading crypto directly from centralized exchanges and other crypto platforms purchased over $2.7 billion worth of bitcoin through U.S.-approved ETF issuers. In fact, for the first time in history, the investment funds recorded over $1 billion in inflows for two consecutive trading days.
Also contributing to the uptrend is the increase in institutional bitcoin adoption. Over a hundred companies have adopted the apex coin as a reserve asset, and a few others are taking steps to join the moving train, notwithstanding the crypto market volatility. Starting the news business week, two prominent BTC investment firms, Metaplanet and Blockchain Group, have announced strategic investments of $93.6 million and $3 million worth of bitcoin, amid the market uptrend, signaling unwavering confidence in the asset.
What’s Next?
Earlier this year, when the crypto market was taking a downturn, famous American Author and businessman Robert Kiyosaki made a strong prediction. He noted that with Donald Trump taking the U.S. presidential seat and enacting a few pro-crypto regulations, BTC could see an upsurge above $170,000 before 2025 ends.
Similarly, American asset manager and ETF issuer VanEck predicted that bitcoin could reach $180,000 before the year runs out, citing the same reasons as Kiyosaki.
Meanwhile, a close look at the bitcoin price chart shows that the overall trend is bullish, with the apex coin setting new highs. However, a short-term profit-taking is expected after such an uptrend. But, if buyers remain in control, BTC is set to test $125,000 in no distant time.
