Bitcoin reached an all-time high above $118,200 early Friday, driven by growing institutional demand and market optimism.
The cryptocurrency rose 6.5% in 24 hours to exceed $118,200, while Ether rose 8.4% to $3,015, according to data from CoinGecko.
Jeff Mei, chief operating officer of BTSE, said:
"We believe that bitcoin hitting another all-time high is a major signal that the industry is on the cusp of kicking off a major bull run."
Vincent Liu of Kronos Research cited calmer macroeconomic conditions and institutional adoption as key factors, although upcoming CPI data could test the rally.
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Spot Bitcoin ETFs saw inflows of $1.18 billion on Thursday, the second-highest daily total since their launch, underscoring strong institutional interest.
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