Bitcoin Surges Above $112,000 in Lightning Speed – What Caused the Move?

Bitcoin’s price experienced a rapid surge, climbing over 1.56% within just five minutes on the Binance USDT market, reaching an impressive $112,532.57. This spike has captured the attention of traders and investors worldwide, prompting speculation about its causes. Experts attribute this sudden ascent to a combination of factors: significant buy orders from institutional investors or whales, positive market sentiment fueled by news and updates, and algorithmic trading strategies implemented by automated bots.