Bitcoin soars to a new all-time high

Bitcoin on the up and up. We're still trading around $118,000 a coin. What's fueling this rally?

Yeah, Ali, it's a series of catalysts that have been fueling this rally. I mean, you've had Bitcoin for a couple of months in a tight trading range around 10,000. So that trading range has been tight for this volatile asset, historically volatile. But really surging to all-time highs, you've got inflows going into ETFs, Bitcoin backed ETFs. So you've got corporate buying, you've got a strategy that continues to buy GameStop, all these companies that are putting Bitcoin on their balance sheet. And then you've got the regulatory framework that is friendly that is from the Trump administration towards crypto in general. So year to date, you're seeing Bitcoin that's up 26%. You also have crypto-related stocks, like Coinbase, the trading platform. You've got Robinhood. Those stocks have been at all-time highs, just absolutely on a tear this year. You also have the framework around stable coin with the Genius Act. And then what we're watching is for the big catalyst next week, that is going to be the crypto week in Congress where they will be debating a series of bills, one of them being in the house, the Genius Act, which was passed recently in the Senate. So this has all been very positive for crypto. Um, you've got also this uncertainty about the tariffs and where the fiscal situation in the US. So you also have investors flocking towards crypto thinking, look, this may be a way to protect my wealth. So what analysts are looking at is now 120,000 for the resistance level. That is the one to watch.