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Bitcoin has made a remarkable surge to break the psychological barrier of $122,000 per coin. This milestone all-time high marks another significant milestone in its journey towards mainstream adoption. As of writing, the price reached an astonishing $122,500 on Coinbase, as reported by TradingView.
The market capitalization of Bitcoin now stands at a staggering $2.39 trillion, surpassing Amazon’s valuation and cementing its position as the world’s 5th largest asset. This unprecedented growth has been fueled by the anticipation of the upcoming “Crypto Week” in the United States.
Rumors have been circulating about potential regulatory clarity and increased adoption, which could lead to further price appreciation. The passing of Donald Trump’s proposed fiscal stimulus package could also have a positive impact on Bitcoin’s value.
Additionally, market analysts are pointing out that this rally has plenty more room to grow, citing the lack of shorts being liquidated in under 60 seconds as evidence of excessive pessimism among investors. “Breaking new highs was liquidation driven…ie, investors were neutral…this is now flipping bullish,” remarked analyst Willy Woo.
Bitcoin’s dominance has been accompanied by other altcoins and tokens also experiencing significant gains, including real-world asset tokenization, which outpaced meme coins and AI tokens with a 13% increase. Meanwhile, Ethereum’s price reached its highest level since early February, climbing to $3,050 as the market continues to be driven by optimism.
As Bitcoin breaches new highs, it is essential for investors to remain cautious and keep an eye on market developments, particularly in light of the regulatory changes taking place.
Source: cryptopotato.com
