Bitcoin Surges Past $116,000 as Institutions Fuel Market Recovery

Bitcoin has reached a new all-time high of over $116,000, marking a significant market recovery driven by institutional investment and the launch of spot Bitcoin ETFs. Key drivers include Blackrock’s massive holdings in the IBIT ETF, which now boasts over 800,000 BTC, and increased interest from institutions across various sectors. These trends suggest an upward trajectory for Bitcoin, with analysts anticipating further growth fueled by institutional adoption and ongoing ETF developments.