Bitcoin Hits New Record Near $112,000 with Support from Institutional Investment Inflows

Amid a strong upward trend, the cryptocurrency Bitcoin saw a significant rise during trading on Wednesday, July 9, nearing the $112,000 level, marking its highest price in history at $111,988.90.

Supported by increased institutional demand and improved investor sentiment towards high-risk assets, the currency rose by 2.1% over the past 24 hours, settling above the $111,100 mark.

Bitcoin's total market value, as the largest cryptocurrency in the world, reached its highest levels surpassing $2.2 trillion, exceeding the previous record set in May at $11,886 per unit.

The surge was not limited to Bitcoin alone, as the cryptocurrency Ethereum also witnessed a rise of over 5% during the same period, nearing the $2,750 level, after touching its daily peak at $2,795.

Analysts attribute this strong performance of digital currencies to two key factors: increasing interest in high-yield assets despite their risks, and the continued flow of investments from major financial institutions into the sector, amid positive expectations for the development of clearer regulatory frameworks supporting its long-term growth.