Bitcoin’s price is once again on a steep climb, touching $122,150 early Monday and coming within a whisper of its $123,000 all time high. The surge follows a week of strong institutional buying and renewed optimism in the crypto sector after a pro crypto executive order from Washington.
The move marks a 3.3 percent jump in just hours, supported by three consecutive days of spot Bitcoin ETF inflows totaling $773 million. Industry voices like Henrik Andersson, CIO of Apollo Crypto, say the breakout was inevitable after weeks of steady consolidation between $115,000 and $120,000.
Confidence has been further fueled by President Donald Trump’s recent directive allowing cryptocurrency investments in 401k retirement plans, potentially unlocking trillions of dollars for the digital asset market. Meanwhile, Michael Saylor hinted his company will add to its already massive Bitcoin reserves, reinforcing bullish sentiment.
Despite the rapid climb, the Crypto Fear and Greed Index sits at 70, suggesting enthusiasm has not yet reached extreme levels. Bitcoin’s strength also helped lift Ethereum past $4,300, contributing to a new record total crypto market cap of $4.14 trillion.
Investors now watch closely to see if Bitcoin can cross its historic milestone and spark the next wave of the crypto bull run.
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