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Bitcoin Hits $123K ATH With Massive Supply Squeeze
The post Bitcoin Hits $123K ATH With Massive Supply Squeeze appeared on BitcoinEthereumNews.com. Bitcoin climbs to $123,000 amid rising institutional involvement. Mohamed El-Erian cites broader adoption factors behind the rally. BlackRock ETF now holds over 700K BTC, surpassing $84B in assets under management. Bitcoin has established a new peak above $123,000, driven by a combination of institutional interest, supportive regulation, and market momentum. The surge reflects growing investor confidence and a shift toward wider cryptocurrency adoption. Economist Mohamed El-Erian pointed to these converging trends as key drivers. Institutional and Regulatory Forces Fuel the Rally Bitcoin surged to a new record high of $123,200 earlier today as large financial institutions continue to deepen their involvement in the crypto market. Investment firms, asset managers, and corporations are increasingly adding Bitcoin to their portfolios, signaling growing trust in the digital asset. Related: Bitcoin Price Prediction: BTC Hits $122K as ETF Inflows and Geopolitical Risk Drive Breakout In a statement on X, the president of Queens’ College at the University of Cambridge and chief economic advisor at Allianz, Mohamed A. El-Erian, said Bitcoin’s rise was “propelled by an accelerating alignment of factors conducive to faster and broader adoption.” These include institutional participation, favorable regulatory moves, and solid market indicators. Meanwhile, a key factor contributing to the rally is the sharp imbalance between Bitcoin’s supply and the growing demand from ETFs. Bitwise had earlier reported that daily ETF inflows average 8,200 BTC, while only 450 new BTC are mined each day. For context, spot ETFs purchased 10,000 BTC on July 10, more than 20 times the daily mining output. Notably, BlackRock’s IBIT has the highest number of BTC among these ETFs, now holding over 700,000 BTC and surpassing $84 billion in assets under management. Meanwhile, the rally is also supported by macroeconomic shifts and renewed institutional activity. President Trump’s announcement of steep tariffs, set to take effect August…
The post Bitcoin Hits $123K ATH With Massive Supply Squeeze appeared on BitcoinEthereumNews.com.
Bitcoin climbs to $123,000 amid rising institutional involvement. Mohamed El-Erian cites broader adoption factors behind the rally. BlackRock ETF now holds over 700K BTC, surpassing $84B in assets under management. Bitcoin has established a new peak above $123,000, driven by a combination of institutional interest, supportive regulation, and market momentum. The surge reflects growing investor confidence and a shift toward wider cryptocurrency adoption. Economist Mohamed El-Erian pointed to these converging trends as key drivers. Institutional and Regulatory Forces Fuel the Rally Bitcoin surged to a new record high of $123,200 earlier today as large financial institutions continue to deepen their involvement in the crypto market. Investment firms, asset managers, and corporations are increasingly adding Bitcoin to their portfolios, signaling growing trust in the digital asset. Related: Bitcoin Price Prediction: BTC Hits $122K as ETF Inflows and Geopolitical Risk Drive Breakout In a statement on X, the president of Queens’ College at the University of Cambridge and chief economic advisor at Allianz, Mohamed A. El-Erian, said Bitcoin’s rise was “propelled by an accelerating alignment of factors conducive to faster and broader adoption.” These include institutional participation, favorable regulatory moves, and solid market indicators. Meanwhile, a key factor contributing to the rally is the sharp imbalance between Bitcoin’s supply and the growing demand from ETFs. Bitwise had earlier reported that daily ETF inflows average 8,200 BTC, while only 450 new BTC are mined each day. For context, spot ETFs purchased 10,000 BTC on July 10, more than 20 times the daily mining output. Notably, BlackRock’s IBIT has the highest number of BTC among these ETFs, now holding over 700,000 BTC and surpassing $84 billion in assets under management. Meanwhile, the rally is also supported by macroeconomic shifts and renewed institutional activity. President Trump’s announcement of steep tariffs, set to take effect August…
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