Bitcoin, the leading cryptocurrency in the virtual asset market, continues to set new all-time highs, raising investor expectations. The market is gaining optimism about its upward trend, with speculation about potentially breaking through $140,000 within the year.
According to Coinbase, Bitcoin surpassed $112,000 for the first time, breaking its previous record high from May 22nd. The upward trend continued the next day, easily crossing the $113,000 mark and reaching as high as $116,000 during trading, making history once again. Despite the uncertainty of major macroeconomic indicators, Bitcoin has maintained a steady upward trajectory this year.
Gary O'Shea, Global Market Insights Director at virtual asset management firm HashDex, attributed this rise to several factors: ▲strong capital inflows into Bitcoin ETFs ▲increased corporate participation in adding virtual assets to their portfolios ▲increasingly favorable regulatory environments across different countries.
He stated, "Although the macroeconomic environment remains uncertain, this bull market is not over" and predicted that "new catalysts, such as expanding Bitcoin access platforms for institutional investors, could potentially drive the price to over $140,000 this year."
The market is positively evaluating recent developments, including Bitcoin spot ETF approvals in the US and other major countries, and global corporations like Tesla continuing to hold virtual assets, which enhances credibility. Consequently, inflows are steadily increasing not only from individual investors but also from institutional investors such as pension funds and hedge funds.
