Bitcoin Breaks $122,000 Barrier as Cryptocurrency Market Soars

The cryptocurrency market has experienced a surge this week, with Bitcoin surpassing $122,000 and Ethereum reaching new heights. Several altcoins have also seen significant gains, demonstrating broader market optimism fueled by various factors. 401(k) plan regulations introduced by former President Donald Trump are credited for driving the increased demand for cryptocurrencies within retirement accounts, while institutional investors continue to play a significant role in driving this growth. Spot Bitcoin ETFs and Ethereum’s rising spot prices have been instrumental in fueling this momentum.