Bitcoin rose to an all-time high of $ 36,361 just minutes ago. The cryptocurrency has since retreated slightly to $ 34,567 as the breakout has slowed somewhat.
BTC’s rally appears to be a byproduct of the Georgia Senate elections. This “blue wave” expected by experts will lead to more monetary and financial incentives than a Republican Senate.
Bitcoin Reaches New All-Time High
According to CryptoQuant CEO Ki Young Ju, institutions continue to accumulate Bitcoin at a rapid pace.
Ki Young Ju noted that it was the major BTC that left Coinbase on January 2. The number of tokens withdrawn in that single day exceeded 55,000 tokens, the largest ever issue for the exchange.
Many people believe that this move was made by institutional investors.