- Bitcoin reached a new all-time high, surpassing $118,000 with 6.2% gains in one day.
- Trading volume exceeded $81 billion in 24 hours, the highest since January.
- The current rally is led mainly by institutional investors, not retail traders.
- Bitcoin exchange flows dropped to their lowest level in three years at $2.39 million.
- Analysts predict Bitcoin could approach $120,000 before the month ends.
Bitcoin surged past $118,000 on Friday morning, setting a new record high. The asset rose 6.2% in value in just one day, with trading volumes topping $81 billion, according to CoinGecko data.
Recent trading activity marks the largest daily volume for Bitcoin since January. At that time, trading intensified ahead of President Donald Trump‘s second inauguration, and again in February when prices temporarily dropped to $84,000.
Kushal Manupati, regional growth and operations lead in South Asia for Binance, noted that institutional confidence—not retail traders—drives this latest surge. He stated, “Institutions are showing confidence to enter the space at scale, bringing not just liquidity but long-term credibility to the space.”
According to analysts at Singapore-based QCP Capital, business sentiment remains strong despite ongoing international trade uncertainties from recent White House announcements. They also pointed to rising copper prices—sometimes called “Doctor Copper” for their ties to overall economic health—as another signal of improving market conditions, citing an 8.42% increase in copper futures over five days.
Bitcoin exchange flows, or the amount moved onto exchanges presumably for trading, have dropped to $2.39 million based on CryptoQuant data. This is the lowest level seen since 2022.
Ryan Lee, chief analyst at Bitget Research, cited strong stock markets, stable money supply, and the passage of the One Big Beautiful Bill Act as positive factors for Bitcoin’s outlook. He commented, “Given these conditions, Bitcoin is well-positioned to break its previous high in July, with upside potential toward $120,000 by month-end.”
With Bitcoin entering new price territory and institutional participation increasing, traders are monitoring how long the current growth streak will persist.
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