Money
Bitcoin surpasses $122,000 after retirement plan reform
Bitcoin climbs over $122,000 as Trump’s executive order opens retirement plans to cryptocurrency investments
Bitcoin climbs over $122,000 as Trump’s executive order opens retirement plans to cryptocurrency investments
– Bitcoin reached over $122,000 with regulatory support and strong institutional demand.
– President Trump’s executive order allows 401(k) plans to include cryptocurrencies, which the Labour Department is currently reviewing.
The Labour Department is now examining this inclusion.
Institutional investments have been on the rise, with Bitcoin ETFs recording $253 million in net inflows last week, marking 13 consecutive trading days of positive flows.
BlackRock’s iShares Bitcoin Trust led inflows with nearly $189 million.
The Bitcoin market cap for spot ETFs is approaching $150 billion, with ETF purchases dramatically outpacing mined Bitcoin.
Market Dynamics
Currently, Bitcoin’s technical indicators show a 3.6% increase in 24 hours, signalling continued momentum.
Analysts warn that a loss of momentum could see Bitcoin support drop to around $116,000.
The broader cryptocurrency market has also benefitted, with Ethereum exceeding $4,300, contributing to a total market cap of $4.04 trillion.
