Bitcoin Nears $122K, As Trump’s 401(k) Crypto Order And ETF Inflows Drive Demand

Benzinga

Bitcoin rose 3.33% to $121,852 in late Sunday trading, according to The Block. The surge comes as Trump’s executive order to explore adding crypto and private equity to 401(k) portfolios fueled buying interest. The order directs the Labor Department to work toward allowing alternative assets in retirement plans, which could spur demand. Bitcoin saw $253 million in ETF inflows this week, despite a post-all-time-high consolidation phase. Presto Research Analyst Min Jung said large corporate treasuries are driving much of the current buying pressure and will likely remain influential in price action. He cautioned that upcoming CPI and PPI data could impact markets, particularly if it shifts expectations for future rate decisions.  27

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Bitcoin rose 3.33% to $121,852 in late Sunday trading, according to The Block.

00:09The surge comes as Trump's executive order to explore adding crypto and private equity

00:13to 401k portfolios fueled buying interest.

00:16The order directs the Labor Department to work toward allowing alternative assets and

00:19retirement plans, which could spur demand.

00:22Bitcoin saw $253 million in ETF inflows this week, despite a post-all-time high consolidation

00:27phase.

00:28Presto research analyst Min Jung said large corporate treasuries are driving much of

00:32the current buying pressure and will likely remain influential in price action, causing

00:36that upcoming CPI and PPI data could impact markets, particularly if it shifts expectations

00:41for future rate decisions.

00:43For all things money, visit Benzinga.com.

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