Overview

• Bitcoin surged from just over $110,000 on Thursday to a record above $118,000 within hours.
• President Donald Trump’s pro-cryptocurrency stance lifted market sentiment, encouraging large-scale investments.
• Industry experts say institutional buyers have been investing relentlessly, depleting available Bitcoin supply.
• The cryptocurrency has gained more than 20% year-to-date, reflecting a robust rally since the start of the year.
• Ether likewise climbed over 5% to around $2,964 after reaching a five-month peak.