Bitcoin surged to a new all-time high of $113,784.60 on Thursday, driven by a rising investor risk appetite and sustained institutional demand as traditional financial market players increasingly embrace the world’s largest cryptocurrency.
Crypto analyst and founder of The Coin Bureau, Nic Puckrin, said the milestone was expected given Bitcoin’s recent low volatility.
“With the market so compressed, it was only a matter of time until we saw a big spike up or down,” Puckrin said, noting the cryptocurrency’s historic correlation with tech stocks, which continues to influence price moves.
Puckrin added that while resistance is mounting at the current high, a breakthrough beyond $115,000 could trigger further profit-taking.
But he cautioned that this rally is likely a release of built-up pressure ahead of a correction and more subdued summer trading before a final surge to the cycle top.
The growing political and regulatory acceptance of Bitcoin has also fueled the rally. Nigel Green, CEO of deVere Group, highlighted a “clear and aggressive” shift in how Bitcoin is being integrated into US national economic strategy and corporate treasury policies. “When a sitting administration is weighing Bitcoin as part of sovereign reserves, that reshapes the global risk framework,” Green said.
Corporate adoption continues to accelerate. MicroStrategy notably added $2 billion in Bitcoin last month, bringing its holdings to over 300,000 BTC. Seventeen publicly traded companies have disclosed Bitcoin holdings recently, while many others are incorporating cryptocurrency into liquidity and risk management frameworks amid economic uncertainty.
“The new all-time highs are being powered by political and regulatory will that are unlocking new channels for capital, and by the growing acceptance that Bitcoin now plays a strategic role in global finance,” Green said.