rewrite this content using a minimum of 1000 words and keep HTML tags
Bitcoin surged above $122,000 today, leaving it only about 1% away from setting a new all-time high, according to data from Bitcoin Magazine Pro. The current record of $123,180, set on July 14, 2025, could be broken at any moment given Bitcoin’s trademark volatility. With institutional adoption continuing to rise and demand for BTC accelerating, a new record may arrive sooner rather than later.
Adding to this momentum, whale accumulation has hit unprecedented levels. As of yesterday, the number of addresses holding over 100 BTC reached a new all-time high of 18,996, surpassing the previous peak of 18,544 from February 26, 2017. Bitcoin Magazine Pro’s chart shows a steady increase in these large holdings, driven in part by corporate treasuries aggressively adding BTC to their balance sheets. Michael Saylor’s firm Strategy has more than doubled its Bitcoin holdings since Donald Trump’s election victory, boosting its total treasury by 60%. This buying spree comes amid a friendlier regulatory climate under the Trump administration, which has rolled back certain Biden-era enforcement actions and introduced pro-crypto policies.
Macroeconomic conditions are also adding fuel to the bullish fire. US Treasury Secretary Scott Bessent said interest rates are “too constrictive” and should likely be 150-175 basis points lower. Speaking on Bloomberg Surveillance, he stated, “I think we could go into a series of rate cuts here, starting with a 50 basis-point rate cut in September… we should probably be 150, 175 basis points lower.”
President Trump took it a step further today, calling for the Federal Reserve to cut rates by 3 or 4 points, which would bring them to around 1%. “I believe we should be three or four points lower. So that’s over a trillion dollars we pay—every year—in interest. And it’s truly just a paper calculation. You sign a document and you save almost a trillion dollars… But despite that, we’re powering through it and have the greatest economy we’ve ever had,” said Trump.
Meanwhile, Cathie Wood, CEO of ARK Invest, reaffirmed her ultra-bullish long-term outlook. Speaking to CoinDesk, she said, “I think that we can safely say that our bull case is well over a million, well over a million dollars in five years,” citing Bitcoin’s role as the “gateway into digital assets for institutions” and a “substitute for gold as a store of value.”
With institutional inflows, whale accumulation, and potential monetary easing converging, Bitcoin could be on the verge of a historic breakout to new all-time highs.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
