Bitcoin Hits Record High of $57,000, Fueling Crypto Market Rally

Bitcoin has surged past $56,000, reaching its highest price since December 2021, driven by unprecedented institutional adoption and record inflows in exchange-traded funds. Analysts predict a path to $150,000 over the next 18 months, with some forecasts reaching as high as $500,000 in the next five years. Professional investors are driving further rallies, with open interest for Bitcoin futures contracts reaching about $22 billion. Ethereum has also seen a 6.6% increase, reaching about $3,260 in the same period.