Bitcoin has surged above $122,000, nearing its all-time high, following a pro-crypto executive order from the White House and significant inflows into Bitcoin exchange-traded funds. Henrik Andersson, the chief investment officer at Apollo Crypto, mentioned that the increase was anticipated after a period of consolidation. The executive order could potentially open $9 trillion in funds to flow into Bitcoin and the broader cryptocurrency market. Additionally, notable figures in the crypto world, like Michael Saylor, are continuing to buy Bitcoin, further indicating sustained investor interest. Despite this rally, the Crypto Fear & Greed Index indicates that market sentiment remains stable rather than overheated, suggesting ongoing investor confidence. Bitcoin's price increase has also positively impacted the broader market, with Ether showing growth amid the rally. The total market capitalization of cryptocurrencies reached a new all-time high of $4.14 trillion, signifying the robust recovery and growth in the crypto space.

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