Bitcoin Hits Record High
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Bitcoin, First Time
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Bitcoin's bull run continues. The cryptocurrency rose as high as $118,739.86 on Friday, according to CoinDesk data, notching a new intraday high for a third straight day. Bitcoin recently stood a little lower,
Bitcoin surpasses $118K as whales stay quiet and exchange inflows fall to decade lows, signaling low pressure.
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Bitcoin has traded in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds.
Factors contributing to Bitcoin’s surge include the pro-crypto stance of President Trump, which has spurred greater interest from institutional investors.
Bitcoin is making an attempt to break out above the $110,000 level that has been a significant barriers during previous rallies.
Crypto exchange Coinbase Global ( COIN) and bitcoin treasury company Strategy ( MSTR) were both up roughly 5% on the day. Stocks generally rose Wednesday, with the tech-focused Nasdaq Composite finishing at its own high .