Bitcoin Zooms Past $121,000 To Finish Historic Week: What's Fueling The Rally?

Bitcoin BTC/USD raced past $121,000 overnight Sunday, capping a historic week on a high.

What happened: The apex cryptocurrency hit an all-time high of $121,209 around midnight, with trading volume jumping 34% to $61.36 billion in the last 24 hours

Bitcoin broke milestones this week, first surpassing its previous high of $112,000, and there has been no going back since.

Strong institutional demand fueled the rally, with Bitcoin exchange-traded funds raking in about $2.72 billion in net inflows last week, according to SoSo Value.

Price Action:  At the time of writing, Bitcoin eased at $121,008.78, up 2.71% in the last 24 hours, according to data from Benzinga Pro. The coin rose over 10% in the last week, and 28% year-to-date.

Photo Courtesy: PV productions on Shutterstock.com

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