Bitcoin ($BTC) has surged past $117,000, marking another strong bullish breakout as the crypto market continues its upward trajectory.
Key Highlights:
- Price Milestone: Bitcoin touches $117,000, up nearly 5% in the past 24 hours.
- Market Sentiment: Traders are growing increasingly optimistic following President Trump’s executive order allowing crypto investments in 401(k) retirement accounts.
- Trading Volume: $BTC daily volume exceeds $58 billion, signaling high institutional and retail interest.
What’s Fueling the Rally?
Policy Tailwinds: The White House’s pro-crypto stance, including regulatory clarity and retirement access, is injecting new confidence into the market.
Rate Cut Expectations: Goldman Sachs now predicts a Fed rate cut in September, adding further bullish momentum for risk-on assets like Bitcoin.
Institutional Demand Rises: Bitcoin ETFs and crypto retirement custodians report record inflows.
Market Reactions:
“Bitcoin breaking $117K is just the start. With policy, liquidity, and sentiment aligned, we could be looking at $130K+ in the short term,” — CentBit Analyst
CentBit Insight:
With macroeconomic and political support surging, Bitcoin appears poised to test all-time highs, especially if altcoin season accelerates in tandem.
Keep watching for upcoming data on:
- ETF inflows
- Treasury Secretary statements
- Altcoin dominance rotation
