Bitcoin (BTC) has reached a new all-time high of about $109,114, signaling the start of a fresh rally driven by institutional investors and nation-states. The surge in Bitcoin's price caused over $264 million in liquidations from the leveraged market, with the majority involving long traders. The altcoin industry also experienced volatility, resulting in $1.25 billion in forced liquidations. Bitcoin has received strong support from institutional investors seeking to hedge against inflation and economic uncertainty, leading to significant inflows into US spot BTC ETFs. From a technical analysis perspective, Bitcoin's price formation suggests a potential rally towards $114k, but short-term traders should beware of a sell-off after the inauguration of Donald Trump.



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