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Bitcoin, the leading cryptocurrency by market cap, has hit a new all-time high of $109,480 on the Bitstamp exchange.
The previous lifetime peak of $109,356 was recorded on the Bitstamp exchange back in January.
Bitcoin's new record peak comes amid extremely robust Bitcoin ETF inflows that signal strong institutional interest. As reported by U.Today, these products recorded $329 million worth of fresh money on Tuesday.
On top of that, the pivotal stablecoin bill recently passed a key procedural hurdle in the U.S. Senate, serving as a bullish catalyst for the broader crypto market.
The community is already busy celebrating the cryptocurrency's new peak, with Binance CEO Richard Teng writing that Bitcoin is "roaring."
Alex Thorn, head of firmware research at Galaxy, has noted that the flagship cryptocurrency is now in price discovery mode.
Meanwhile, Strategy's Michael Saylor has stated that those who are not buying Bitcoin at the all-time high are leaving money on the table.
Is $150,000 possible?
Earlier this week, Bloomberg analyst Eric Balchunas did not rule out that Bitcoin could hit $150,000 this year. This could trigger a new wave of institutional interest that would quickly allow BlackRock's IBIT to surpass Satoshi as the leading Bitcoin holder.
Fundstrat's Tom Lee recently opined that the $150,000 price target is actually too conservative for the leading cryptocurrency.
Standard Chartered has repeatedly predicted that Bitcoin could surge all the way to $200,000 this year.
Bitcoin is currently up by 17% on a year-to-date basis.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team