Bitcoin soars to unprecedented $112,022 high
Business
Bitcoin just hit an all-time high of $112,022. What's fueling the hype?
Big money is pouring in from spot ETFs and more people are jumping into crypto. Hopes for US interest rate cuts next year are also adding to the buzz.
Even coins like Ethereum and Solana are catching some of this positive energy.
Bitcoin ETFs attract over $1 billion since late June
A huge wave of cash—over $1 billion since late June—has flowed into US spot Bitcoin ETFs, with BlackRock's fund now holding 700,000+ BTC.
Edul Patel from Mudrex says a weaker dollar and rising US debt make Bitcoin look even better right now.
Investors are keeping an eye on key reports like the Consumer Price Index on July 11 and upcoming Fed decisions for what might come next.