Bitcoin Breaks $117K as Institutional Demand Fuels Rally

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Bitcoin reached a historic peak above $117,000 early Friday, extending its rally amid strong institutional inflows and favorable market conditions. The asset gained 5.5% in 24 hours, hitting $117,176, with Ether also rising 7.3% to $2,981.

“This breakout suggests the market is entering a sustained bull phase,” said BTSE’s Jeff Mei.

Kronos Research’s Vincent Liu noted that institutional adoption and easing macro risks have reignited interest in Bitcoin as a “gold-like” store of value.

Spot Bitcoin ETFs recorded $1.18B in inflows Thursday, marking their second-best day ever, as institutional players doubled down ahead of key CPI data next week.