Bitcoin has surged to a new all-time high of $94,000, fueled by robust institutional demand and significant inflows into exchange-traded funds (ETFs). The cryptocurrency's rise is also supported by a favorable macroeconomic environment, which has bolstered investor confidence. On-chain data reveals a decrease in Bitcoin balances on exchanges, suggesting that investors are increasingly opting to hold their assets rather than trade them. This trend indicates a strong belief in Bitcoin's long-term value, further contributing to its price escalation.