Bitcoin flies to new all-time highs, briefly topping $118,000 as institutions pile into ETFs

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Bitcoin extended its rally on Friday, rising to new records overnight after bitcoin ETFs saw their biggest day of inflows of the year.

The price of the flagship cryptocurrency was last higher by 4% at $117,955.25, according to Coin Metrics. Earlier, it rose as high as $118,872.85. Ether rose 6%, crossing back above the $3,000 level for the first time since February.