Rising institutional demand drives Bitcoin to reach new highs

According to a report by Golden Finance, Patrick Munnelly, an analyst at Tickmill Group, stated that Bitcoin has reached a historic high driven by interest from institutional investors and support measures from President Trump. He said, "The recent surge in the value of Bitcoin has been driven by the continuous buying of institutional investors, who have purchased large amounts of available supply, resulting in a continuous decrease in liquidity on trading platforms." In addition, Trump ordered the establishment of a Bitcoin strategic reserve, and the US Senate passed a bill last month to provide a regulatory framework for stablecoins.