Bitcoin broke through $122,000, approaching historical highs, with institutional funds flowing in pushing up the crypto market.

With the continuous release of demand from institutional investors and corporate fund buyers, the digital asset market has ushered in a new round of gains. The price of Bitcoin is close to its historical high, with a gain of 3.2% as of the time of writing, reaching the $122,000 mark, just a step away from the historical record set in mid-July. The weekend market rebound further pushed Ethereum above $4300, reaching its highest level since December 2021. This round of cryptocurrency price increases is closely related to the layout of large investors. According to Coingecko data, financial companies focused on accumulating crypto assets currently hold Bitcoin reserves worth $113 billion. Similarly, investment tools focusing on Ethereum have a holding size of around $13 billion, according to statistics from strategicethreserve.xyz. Rachael Lucas, a cryptocurrency analyst at BTC Markets, pointed out that the new high in Bitcoin is benefiting from multiple positives: institutional funds continue to flow into corporate bonds and US spot ETFs, along with a shift in market sentiment after the US imposed new tariffs on imported gold bars. Against the backdrop of supply bottlenecks and policy risks in gold, Bitcoin, as a borderless, duty-free store of value, is gaining more and more favor from investors. It is worth noting that the Trump family's presence in the crypto space continues to grow. Eric Trump, son of US President Donald Trump, holds financial interests in multiple digital asset entities and recently expressed approval of Ethereum's upward trend on the social platform X. Investors are reportedly in discussions about the World Liberty Financial project supported by the Trump family, which aims to hold WLFI tokens through a publicly listed company. The options market is also releasing positive signals. The put/call ratio for Ethereum remains low at 0.40, indicating an overall bullish market sentiment. Deribit data shows that the call option with a strike price of $6,000 expiring on December 26 has become the most actively traded contract. Sean McNulty, Head of Derivatives Trading at FalconX Asia-Pacific, analyzed that the current Bitcoin and Ethereum holding structures significantly favor call options expiring in September and December, which aligns with the global macro interest rate reduction cycle and the increasing acceptance of crypto assets in the traditional financial system. Rachael Lucas added that the next key target for Bitcoin will be the previous historical high of $123,205, and if the upward momentum weakens, the $116,000 level may act as support. The current market is closely monitoring the trend of institutional funds flowing in, changes in policy environment, and the interconnected impact of traditional financial tools innovation on digital asset prices.