Bitcoin’s surge past $120k amid a weakening US dollar signals a potential paradigm shift as institutional adoption grows and traditional markets falter against crypto’s rise.
Bitcoin has rallied from $108,000 to over $120,000 in under a week, setting consecutive all-time highs as the US dollar weakens significantly against major currencies. The dollar index has dropped 11% in six months, with Bitcoin showing an inverse correlation that analysts believe signals growing “bitcoinization” of global finance.
Institutional inflows continue breaking records, with BlackRock’s Bitcoin ETF (IBIT) reaching $80B AUM in just one year – a milestone that took gold ETFs 15 years. Meanwhile, the S&P 500 has declined 15% year-to-date when priced in Bitcoin, demonstrating crypto’s growing dominance over traditional assets.
Analysts note Bitcoin’s 40% surge since April aligns with a global liquidity breakout, estimating each 1% increase in liquidity could drive 20%+ BTC price gains. “We’re seeing capital rotate from all corners into Bitcoin,” said Real Vision’s Jamie Coutts, predicting an eventual “panic buying” phase as adoption accelerates.
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CryptoFeedHub Note: This article is a rewritten summary based on external reporting. Original source: CryptoSlate.