Bitcoin Reaches $106k: Institutional Backing Fuels Record Surge

Bitcoin has broken the $106,000 barrier, driven by institutional investment rather than retail frenzy. This shift is attributed to growing confidence in Bitcoin due to regulatory clarity and strategic moves from financial institutions like JPMorgan. 576,000 BTC are currently held by Strategy Ltd., demonstrating a significant increase in institutional holdings. This recent surge contrasts with previous market movements driven by individual investors.