Bitcoin Hits New All-Time High at $123,236 as ETF Massive Inflows
Bitcoin has reached a new all-time high of $123,236, surging over 5% in the past 24 hours, driven by increased institutional interest and favorable market signals.
Bitcoin reached a new all-time high of $122,236 early Monday, rising beyond 3% over the past 24 hours. Institutional interest and other favorable market signals drove the latest milestone.
Analysts Viewpoints on Bitcoin
Jeff Mei, who is the Chief Operating Officer of crypto exchange BTSE, described the milestone as a key indicator of a broader market upswing. “Bitcoin hitting a new all-time high signals that the crypto industry is on the verge of a significant bull run,” he said.
On the other hand, Vincent Liu, the Chief Information Minister of Kronos Research, attributed the renewed momentum to improving macroeconomic conditions and an apparent uptick in institutional participation. “This reflects increased confidence in bitcoin as a regulated, long-term store of value akin to gold,” Liu noted. He warned, however, that short-term uncertainty around the July 15 U.S. CPI report could trigger profit-taking and temporarily dampen market enthusiasm.
One of the most telling indicators of rising institutional appetite is the inflow into spot bitcoin exchange-traded funds (ETFs), which totaled a staggering $1.18 billion on Thursday alone, the second-largest single-day inflow since inception.
More Insights From Crypto Experts
Min Jung, a research analyst at Presto Research, said that growing expectations of a U.S. Interest rate cut and broader institutional push fueled ETF inflows. “We’re seeing more firms, following the lead of companies like MicroStrategy, integrate bitcoin into their strategic portfolios,” Jung said. “Since the launch of spot ETFs, institutional accessibility has significantly improved, helping push bitcoin toward fresh record highs.”
Jung also highlighted the shifting market dynamics, according to Jung, “Despite ongoing short-term concerns such as trade-related risks, we believe that the anticipated rate-cutting cycle and increasing institutional demand provide strong momentum. These factors suggest that ETF demand is likely to remain solid, especially as bitcoin continues to gain a firmer role in diversified investment strategies.”
Regulatory developments are also playing a pivotal role. Nick Ruck, director at LVRG Research, pointed to the recent passage of the GENIUS Act and the removal of a key crypto broker tax regulation as examples. “These regulatory changes are lowering long-standing barriers, making it easier for institutions to gain exposure to bitcoin and other digital assets,” Ruck said.
