Unstoppable Bitcoin breaks past $117,000

Doohyun Hwang

Summary

It was reported that "Bitcoin" broke through a new all-time high of $117,000 in just one day.
Industry experts stated that expectations of interest rate cuts and inflow of institutional funds are driving the uptrend.
Following ETF approval, the increase in institutional investment and improvement in the macro environment have diversified the demand base.

Bitcoin (BTC)'s upward momentum shows no signs of slowing down. It has once again set a new all-time high in just a single day.

On the 10th (local time), Bitcoin surged about 6% from the previous day to surpass the $117,000 mark on the Binance Tether (USDT) market, a global virtual asset (cryptocurrency) exchange. The all-time high reached that day ($116,868) was surpassed again in less than a day.

Industry experts analyzed that expectations of interest rate cuts and the inflow of institutional funds are driving this uptrend.

Min-Kyo Jung, an analyst at Presto Research, commented, "The current bullish momentum of Bitcoin can be interpreted as a response from liquidity-sensitive assets, with renewed expectations for a US interest rate cut coming to the fore." He added, "In addition, following the approval of the ETF, institutional accessibility has increased, and as some major companies change their asset allocation strategies, the demand base has diversified."

Su-Bin Ahn, a data analyst at Hashed, noted, "Recently, the overall macro environment has improved, including the stock market such as Nasdaq, and concerns over Trump's tariff policies are fading in the market." He continued, "The accumulation of ETF demand and institutional buying momentum has likely created synergy for the ongoing uptrend."

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