Bitcoin surges to new record, topping $116,000

11 Jul 2025 09:22

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Economics
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Bitcoin surges to new record, topping $116,000

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Bitcoin (BTC) set a new all-time high above $116,000 on Thursday, breaking out of the range it had been trading in for months.

The world's largest cryptocurrency hit $115,469 during the U.S. trading session, marking a 4.3% increase in the past 24 hours, News.Az reports, citing CoinDesk.

The new record comes less than a day after it briefly topped $112,000 on some exchanges, then retreated below $111,000 in the later hours. A year ago, Bitcoin traded at $57,704, meaning it doubled in price over the past 12 months, despite some volatility through that time — it retraced some of its growth this past spring.

Bitcoin's rally to new highs was buoyed by strong inflows into ETFs, relentless corporate adoption by crypto treasury companies and an increasingly favorable regulatory climate, Gerry O'Shea, head of global market insights at Hashdex, said in a note.

"While the macro environment will continue to remain uncertain, we believe the bull market is far from over and new catalysts, including more institutional platforms allowing access to bitcoin, may help drive the price of BTC to $140,000 or higher this year," he said.

The broader crypto market was also climbing higher on Thursday. Ethereum's ether (ETH) topped $2,800 and was up more than 5%, while XRP gained 3.5%. The broad-market CoinDesk 20 Index advanced 3.4% to its strongest level since May.

News.Az