Bitcoin achieved a groundbreaking all-time high of $124,000 on November 1, 2023, as verified by Binance market data and primary exchange feeds. The cryptocurrency traded at $124,070.101563 USDT at the peak, reflecting a 24-hour surge of 3.43%. This milestone was propelled by multiple catalysts, including a U.S. executive order enabling cryptocurrency inclusion in retirement plans, which triggered accelerated institutional investment.
Trading volume spiked 26% amid renewed whale accumulation, signaling robust market confidence. Analyst Daan Crypto emphasized historical patterns, stating: "Most likely, we will see a big move this month." Technical breakouts and Bitcoin's scarcity narrative further amplified buying pressure, with Binance confirming the price benchmark.
Market observers anticipate a ripple effect across altcoins and DeFi protocols, mirroring historical trends where Bitcoin rallies precede broader crypto gains. Institutional inflows are now driving unprecedented capital deployment into digital assets, though regulatory implications remain under scrutiny.