Bitcoin soared to a new all-time high above $111,000 on Thursday, extending its bullish run even as traditional markets, including US stocks, faced downward pressure.
According to Coin Metrics, the world’s largest cryptocurrency peaked at $111,886.41 during early trading in London before stabilizing near $110,900.
Analysts point to a perfect storm of factors behind the rally, including:
Renewed institutional confidence in crypto assets. Momentum from retail and whale investors. Rising global concerns about fiat currency stability. Regulatory developments in the US that favor the digital asset space
“This rally signals a shift in sentiment—investors are seeking alternative stores of value,” said James Butterfill, head of research at CoinShares. “Bitcoin is increasingly viewed as a hedge in times of macroeconomic uncertainty.”
One key development fueling the optimism is the GENIUS Act—a major US bill aimed at regulating stablecoins—which has passed a crucial Senate procedural vote, marking a step forward in formalizing crypto oversight.
Former US President Donald Trump and tech investor David Sacks have publicly voiced support for a pro-crypto policy agenda.
In a surprising shift, JPMorgan CEO Jamie Dimon, once a vocal critic of Bitcoin, has announced that the bank will now allow clients to purchase Bitcoin, signaling growing mainstream acceptance.
Bitcoin’s explosive growth comes at a time when U.S. equity markets are struggling, and after Moody’s downgraded the US sovereign credit rating, adding to investor anxiety over the future of the dollar and long-term inflation.
This broader financial uncertainty has made Bitcoin increasingly attractive as a digital hedge, with many now calling it the “gold of the digital age.”
