Bitcoin Surges Past $122K, Nearing All-Time High on ETF Inflows and Corporate Buys

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Bitcoin (BTC) surged past $122,000 on Monday, coming within 1% of its all-time high of $123,218. The rally has been fueled by high spot Bitcoin ETF inflows, renewed corporate accumulation, and a pro-crypto policy shift from the White House.

Over the last three days of trading, U.S. spot Bitcoin ETFs absorbed $773 million in net inflows, according to Farside Investors. BlackRock’s IBIT fund now holds $80 billion in BTC, closing in on the $94 billion held by the largest gold ETF.

On the corporate front, Michael Saylor’s MicroStrategy signaled continued Bitcoin purchases, expanding its already massive $76.8 billion treasury. Henrik Andersson, CIO at Apollo Crypto, described the move above $122K as “just a matter of time” after a month-long consolidation between $115K and $120K.

Trump’s Pro-Crypto Policies Ignite Wave of Bitcoin Optimism

A major catalyst has been President Donald Trump’s recent executive order enabling 401(k) retirement plans to invest in cryptocurrencies. This policy could open up $9 trillion in retirement assets to Bitcoin, potentially driving significant long-term demand.

Technical indicators remain bullish. The daily RSI sits at 67.7, signaling strong momentum without entering overbought territory, while the MACD has posted a bullish crossover.

Analysts believe a decisive break above $123K could trigger algorithmic buying and retail FOMO, pushing BTC toward the $126K–$129K range.

BTC's price trends to the upside on the daily chart. Source: BTCUSD on Tradingview 

Broader Crypto Market Hits $4.14 Trillion

Bitcoin’s rally has helped lift the total cryptocurrency market capitalization to an all-time high of $4.14 trillion. Ethereum (ETH) also surged, crossing $4,300 for the first time since 2021, supported by $4 billion in institutional inflows and the launch of ETH-focused ETFs.

Despite the bullish trend, sentiment remains measured. The Crypto Fear & Greed Index stands at 70/100, indicating enthusiasm but avoiding extreme euphoria. Google search interest for Bitcoin has also risen modestly, suggesting room for further retail participation.

With institutional inflows strong, corporate adoption rising, and regulatory clarity improving, analysts say Bitcoin is well-positioned for another leg higher. A clean break above $123K could open the door to $130K in the near term, and potentially $150K by year-end if macroeconomic conditions remain favorable.

Cover image from ChatGPT, chart from Tradingview

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