Bitcoin breaks $ 109k ATH to enter the price discovery again

Bitcoin (BTC) rose to a highlight of $ 109,476 in the first two hours of the New York trading session, to break his all time of $ 109,353 in January.

The newest rally for price discovery comes in the midst of strong institutional investments, favorable regulatory developments and increased market activity in recent weeks.

Based on crypto slat data, Bitcoin acted at $ 109,2460 from the moment of press, an increase of 4.3% in the last 24 hours.

The rally follows new accumulation per strategy (formerly micro strategy), which now has more than 576,000 BTC, approximately 2.7% of the total offer. It also follows increasing interest from sovereign entities that are given indirect exposure through public shares, in particular through strategy shares.

The progress of the US Senate of the Bipartisan Genius Act, aimed at the regulation of the Stablecoin, has strengthened market sentiment. In addition, the executive order of President Donald Trump will give a strategic Bitcoin reserve in January strong government support for digital assets in January.

Bitcoin’s 24-hour trade volume reached $ 50.84 billion, with a market capitalization of $ 2.13 trillion. Futures-market activity is also intensified, with open interest that reached a record high of $ 76.20 billion on 21 May, which points to increased investor involvement.

Standard Chartered is of the opinion that the current environment is ready to push Bitcoin to a new high point of $ 120,000 in the second quarter and possibly $ 200,000 towards the end of the year, stating an increased institutional adoption and favorable market conditions.

While Bitcoin continues his upward process, market participants keep a close eye on the performance and anticipating potential new all-time highlights in the near future.

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