Bit (Bitcoin) broke through $112,000 at 3 AM Taiwan time today, breaking the historical high point from May 22 after nearly two months. According to OKX data, Bit slightly dropped before press time, currently trading at $110,920.
Spencer Hallarn, trading head of GSR, pointed out that strong demand from ETF and crypto asset positions provides solid support for Bit. The speed of Q2 listed companies buying Bit even exceeded ETF capital inflows, which is seen as another victory for crypto supporters.