Happy Friday!

Bitcoin has smashed all previous highs, setting a new ATH just short of $119,000. Altcoins are surging too — here’s all you need to know.

Ethereum and not Solana is the preferred choice of Wall Street companies, according to Tom Lee — why is that?

Plus, turn volatility into opportunity with former hedge fund trader Chris Capre's system. While others panic during market swings, Trading Waves members receive precise alerts for potential quick gains. Access institutional-level analysis designed for today's unpredictable markets.

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TOP STORY

Bitcoin Sets All-Time High At $118,909, Ethereum, XRP Surge 8% Each

Bitcoin has surged to a new all-time high of $118,909 on Coinbase on Friday morning propelled by steady institutional buying, but analysts warn the rally could face pressure from geopolitical and inflation-driven uncertainties in the weeks ahead.

Stephen Wundke, Director of Strategy and Revenue at Algoz, pointed to the continued inflows into U.S.-listed spot Bitcoin ETFs, amounting to $15 billion in net buying over the past two months, as a critical driver of upward momentum.

"Institutions have kept buying BTC ETFs," Wundke told Benzinga. "Traders who lack exposure are now trying to recover positions, forcing prices higher."

How long will this rally last?

Read the full scoop here.

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QUICK N DIRTY

Bitcoin, Ethereum, XRP and Dogecoin are surging and market observers have announced ‘money-making season’ being officially here.

Bitcoin has hit new highs against the dollar, but not yet against the euro or Swiss franc — what is driving the divergence?

Shiba Inu is up 9% but that is nothing yet. The ‘real’ rally, analysts say, is still to begin.

FINTECH FOCUS

Tom Lee: Ethereum, Not Solana, Is The 'Preferred Choice' For JP Morgan, Robinhood, Circle To Build On

Ethereum’s dominance in the tokenized finance sector isn’t slowing down and according to Fundstrat’s Tom Lee, it has already become Wall Street’s go-to blockchain infrastructure, leaving Solana behind in key institutional use cases.

Speaking to CNBC on Thursday, Lee made it clear that Ethereum's recent outperformance and adoption by financial giants point to a deeper shift.

“There is really a rediscovery of Ethereum taking place,” he said, citing its role in powering stablecoins and tokenized assets that now account for more than 60% of Ethereum’s network usage.

How high does Lee see Ethereum going?

Read the full scoop here.

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Disclaimer: This communication from Benzinga is for informational purposes only. It is not intended to serve as a recommendation to buy, sell, or hold any security and is not an offer or sale of a security. Information contained within should not be perceived as a research report and is not intended to serve as the basis for any investment decision. Any third-party views reflected herein do not reflect the opinion of Benzinga. All investments involve risk and the past performance of a security does not guarantee future results or returns. There is always the potential for financial loss when investing in securities or other financial products. Investors should consider their investment objectives and risks before investing. Benzinga is reader-supported. When you buy through links on our site, we may earn an affiliate commission. Benzinga may receive monetary compensation from the issuer, or its agency, for publicizing the offering of the issuer’s securities. This content is for informational purposes only and is not intended to be investing advice. This is a paid ad. Please see 17b disclosure linked in the campaign page for more information.