Bitcoin's price has reached $122,000, driven by over $2 billion in spot ETF inflows and increasing institutional demand, with potential for further gains.
Bitcoin's price surged above $122,000, supported by over $1.20 billion inflows into spot Bitcoin ETFs on a single day. QCP Capital reported institutional flows exceeding $2 billion last week, indicating strong market interest. Open interest in futures surpassed $43 billion, signaling crowded long positions. Analysts suggest Bitcoin may reach $125,000 in the near term, although caution is advised due to potential pullbacks amidst high funding rates and record open interest.