Bitcoin Hits All-Time High, Driven by Institutional Growth and Falling Exchange Balances

Bitcoin reached a new all-time high, closing the week at $124,266, marking a 10.54% surge fueled by significant institutional activity and a shrinking supply of Bitcoin held on exchanges. This record close follows a surge in spot Bitcoin ETF inflows exceeding $3.3 billion last week. Total net inflows have now surpassed $60 billion, showcasing the growing interest of institutional investors in the cryptocurrency.