Bitcoin is soaring again, breaking through $124,000 intraday and continuing to set new historical highs. On-chain data shows that institutional wallets have been increasing their holdings for several consecutive days, with net inflows into spot ETFs exceeding $1.2 billion in a single day, creating a surge of capital. The market is hotly speculating on the narrative of "digital gold," combined with a shift in large asset allocation, driving the price of coins forward with great momentum. Traders indicate that short-term fluctuations may intensify, yet the long-term bullish consensus is growing stronger, and the bull run sentiment continues to ferment.