A. M. Bitcoin has consolidated its meteoric rise by smashing its all-time high, reaching a value of US$118,856.47 in the last few hours. This milestone represents a 5.7% increase in just 24 hours, driven by a combination of structural factors reinforcing confidence in its upward trajectory. The cryptocurrency continues to defy expectations and consolidate itself as a globally relevant asset.
This impressive rally had a direct and significant impact on El Salvador. The country’s strategic reserve, managed by the National Bitcoin Office, saw its value skyrocket to US$735 million. In a matter of hours, the national portfolio experienced a US$10 million increase, reflecting the strength of its bitcoin investment policy, which has been in place since 2021.
El Salvador’s current holdings amount to 6,234 bitcoins, strategically accumulated over time. This forward-looking approach has allowed the Central American country to directly benefit from the exponential growth of the cryptocurrency. The previous day, bitcoin had already reported a record high of US$112,759.57 per unit, with an advance of 2.8%.
Financial market experts agree that bitcoin’s uptrend could continue in the coming days. The continued inflow of institutional capital is a key factor that could continue to drive its value. This investment flow strengthens the narrative that bitcoin is gaining ground as a legitimate and attractive option for large financial players.
While the US$119,000 area looms as significant resistance, technical analysis suggests that bitcoin still has room to climb further. Low retail pressure indicates that most investors are holding their assets, which contributes to stability and upside potential. The cryptocurrency’s near future looks promising.
