Market Performance - Bitcoin price surged to a new all-time high, surpassing $124,000, representing an approximately 8% increase in one week [1] - Year-to-date, Bitcoin is up 30%, starting the year at $94,384 [1] - Ethereum and other major cryptocurrencies are also rallying, with ETH approaching its record high [2] Market Drivers - The rally was initially fueled by Trump's election victory and U.S spot Bitcoin ETF inflows [1] - Aggressive futures buying and reduced selling pressure from miners are now driving prices higher [1] - Strong Taker Buy Volume at $12.24 billion indicates traders are aggressively buying at the ask price [2] - Potential interest rate cuts by the Federal Reserve, influenced by political pressure, could further boost Bitcoin's momentum [2] Mining Activity - Miner reserves have decreased to 1,806,630 BTC, suggesting a reduction in liquidation risk [2]