Bitcoin achieved a historic milestone by surpassing $118,000 for the first time, closing at approximately $116,800 . This unprecedented surge underscores a broader trend of increased investor confidence as market participants adopt a risk-on approach. The rise in Bitcoin's value is notably tied to significant inflows into spot Bitcoin exchange-traded funds (ETFs), which have attracted considerable attention amid an evolving regulatory landscape . Additionally, the softening of the U.S. dollar has bolstered demand for cryptocurrencies as alternative assets.
Bitcoin powered near $118,860 overnight Thursday, breaking out of its recent $100,000 to $110,000 range and clearing its previous record of $111,970 from late May. Ethereum hit a 2025 peak near $3,040 as other cryptos and digital asset stocks trended higher.
According to data from CoinMarketCap, the going price for bitcoin climbed as high as $118,856 early Friday. The world’s most popular cryptocurrency later fell slightly under the $118,000 mark in the afternoon — but was still dancing close to the threshold around 4 p.m. ET, sitting about $8,000 higher than it was a month ago and more than double its price this time last year.
Spot bitcoin ETFs opened up cryptocurrency investing more widely after launching last year — and analysts have pointed to record inflows recently. And a soft U.S. dollar and the digital currency friendliness of Trump’s administration also has helped to lift the price of bitcoin to unprecedented levels over the past few months.
The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins.
Shares of Circle (CRCL), the issuer of stablecoin USDC (USDC-USD), were up roughly 2% on Thursday. The stock is up more than 500% from its June 5 IPO.
Trading platforms Robinhood (HOOD) and Coinbase (COIN) were also higher during Thursday's session.
Moreover, technological advancements within the blockchain ecosystem have further solidified investor confidence. Enhancements in scalability and security protocols have made transactions more efficient and trustworthy . As these improvements continue to enhance user experience and reduce barriers to entry for new investors, the allure of Bitcoin is likely to expand beyond traditional financial circles. Ultimately, this confluence of factors fosters an optimistic outlook for future price trajectories in the cryptocurrency market.
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