🚀 Bitcoin Smashes $119K Record as Wall Street and ETFs Fuel Unstoppable Demand

Bitcoin just rewrote the rulebook—again. The pioneer cryptocurrency blasted past $119,000 today, riding a tsunami of institutional cash and ETF inflows that left traditional finance scrambling to keep up.

Wall Street’s late-stage FOMO is finally hitting critical mass. After years of dismissing crypto as a ‘fraud’ or ‘tulip mania,’ suits are now elbowing each other to grab a slice of the digital gold rush—ironic, given how many once swore they’d never touch it.

Corporate treasuries aren’t just dipping toes anymore. They’re diving headfirst, with blue-chip balance sheets allocating bigger chunks to BTC than ever before. Meanwhile, spot Bitcoin ETFs are vacuuming up supply like BlackRock discovered a new asset class (spoiler: they’re 15 years late).

This isn’t retail hype—it’s the establishment capitulating. And with every institutional dollar that floods in, the old financial system’s ‘digital gold’ narrative starts looking more like a desperate rebrand of their own obsolescence.

Funny how quickly ‘worthless internet money’ becomes ‘strategic reserve asset’ when there’s a commission check attached.

Exchange reserves plummet as supply tightens

On-chain data reveals that Bitcoin held on exchanges has dropped to a 10-year low—now at just 1.25% of total supply. This sharp reduction in exchange-held BTC reduces immediate selling pressure and reinforces the asset’s scarcity narrative. The circulating supply sits at 19.89 million BTC, with only 1.11 million left to be mined under the fixed 21 million cap.

Meanwhile, the 24-hour trading volume fell to $43.56 billion—down 22.4%—suggesting that the recent MOVE was driven more by spot buyers and long-term holders than speculative traders.

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Outlook: Momentum intact but watch key support

Bitcoin’s price action appears structurally healthier than previous cycle tops. Leverage remains relatively low, and retail mania has yet to fully return. The key support to watch is the $114,000 level, which aligns with technical Fibonacci zones and short-term moving averages.

For the rally to sustain, the market may need a new catalyst beyond ETF flows—possibly a confirmed return to Bitcoin accumulation from major corporate entities or further regulatory clarity in the U.S.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.

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