Bitcoin Reaches New Heights, Surpassing $110,000
Bitcoin soared past $110,000 on Wednesday, marking a new all-time high. This milestone comes as the cryptocurrency market experiences a strong rebound. The previous record was set during President Trump’s inauguration in January. Following U.S. equity markets’ close, Bitcoin kept climbing, according to crypto.news data.
In the last 24 hours, Bitcoin climbed over 4.5%,and it has seen a 23% increase in the past month. This surge follows a significant downturn in April. The rally reflects growing confidence in the market, mirroring the recovery in U.S. equities.
Analysts say that President Trump’s trade policies might be less harsh than feared, boosting markets. The S&P 500 has risen 15% since April, and the Nasdaq is up 21%. A 90-day pause on severe tariffs, announced by treasury Secretary Scott Bessent, has further calmed fears.
What’s driving Bitcoin’s momentum? Some experts point to crypto-native factors. Phil Wirtjes, CEO of Enclave Markets, notes that policy advancements, like stablecoin legislation, may be aiding the rally. Institutional interest has also grown, with Spot Bitcoin ETFs seeing $329 million in inflows.
While regulatory clarity and ETF flows are significant factors, Bitcoin’s correlation with stocks suggests that investor sentiment plays a crucial role. Bitcoin often moves with risk-on equities, especially tech stocks, despite it’s reputation as a hedge against traditional assets.
