Bitcoin surges 10% to $111,000 as ETFs attract institutional funds

Bitcoin's price surged past $111,000 on May 22, marking a new all-time high. This rally was primarily fueled by a significant influx of funds into cryptocurrency exchange-traded funds (ETFs), indicating a robust interest from institutional investors. Analysts forecast that if this trend persists, Bitcoin could potentially reach $120,000.

In a move that has further bolstered market confidence, US President Trump signed an executive order to establish a national strategic bitcoin reserve. This initiative aims to integrate bitcoin into the national asset reserve system. Additionally, Congress is advancing the GENIUS Act, which seeks to provide a clear regulatory framework for stablecoins. These policy measures have not only enhanced market confidence in cryptocurrencies but also contributed to the surge in bitcoin prices.