Bitcoin hits new all-time high, briefly topping $118,000

Market Trends & Drivers - Bitcoin received a boost from the tech rally [1] - Short liquidations triggered a surge in Bitcoin's price [2] - Bitcoin ETF inflows reached over 1 billion USD, marking the biggest day this year [2] - Corporate buys and ETF inflows have supported Bitcoin, keeping it above 100,000 USD for over 60 days [3] - The rebound in crypto started in mid-April [3] External Factors & Potential Risks - Interest rates are a key focus for Bitcoin [4] - The Fed meeting at the end of the month will be interesting to watch for its impact on Bitcoin [4] - Potential termination of Fed chair Jerome Powell hinted at by President Trump influenced the market [3] Bitcoin Performance & Characteristics - Bitcoin outperformed gold [5] - Tech up and rates down is a good formula for Bitcoin [4] - Bitcoin reached the 110,000 USD level [2]