Bitcoin hit a new all-time high above $118,000 as institutions drove the rally—while analysts predicted a $120K target by month-end.
Bitcoin surged past $118,000 early Friday, marking a new all-time high with 6.2% daily gains and over $81 billion in trading volume—levels not seen since January. The rally is notably institution-driven, signaling growing long-term confidence and credibility in the crypto space, according to Binance executive Kushal Manupati.
Meanwhile, exchange inflows have plummeted to a three-year low of $2.39 million, per CryptoQuant, suggesting a reluctance to sell and reinforcing the bullish trend.
Analysts from QCP Capital highlight macro optimism, citing rising copper prices—up 8.42% in five days—as a signal of improving industrial demand and liquidity. Bitget’s Ryan Lee adds that the strong stock market, stable money supply, and legislative boosts like the One Big Beautiful Bill Act position Bitcoin for further gains.
Market watchers now eye the $120,000 milestone by month-end as momentum continues to build.
