The cryptocurrency rose 1.9% to trade at $110,947.49, according to Coin Metrics, and briefly hit a peak of $112,052.24 just before the stock market closed—surpassing its previous record of $111,999 set on May 22.
Despite consistent inflows into bitcoin exchange-traded funds (ETFs) and increasing purchases by public companies, the flagship cryptocurrency had been trading within a narrow range for several weeks. In fact, bitcoin’s gains have been modest over the past month, rising only 2%. Notably, corporate bitcoin buying outpaced ETF inflows in Q2.
Read More: Gold prices surge in Pakistan – What’s behind this unstoppable rise?
The latest surge came as Nvidia’s market value briefly crossed the $4 trillion mark, helping drive the broader tech-heavy Nasdaq Composite to a record close. Investors also appeared to downplay new tariff developments from President Donald Trump during the session.
Although many institutions view bitcoin as “digital gold,” it remains a volatile risk asset that often moves in tandem with tech stocks and broader market sentiment. When markets adopt a "risk-on" approach and favor growth assets, cryptocurrencies like bitcoin typically follow suit.
Analysts and investors are optimistic about bitcoin’s trajectory in the second half of 2025, expecting fresh highs as corporate treasuries increase crypto holdings and U.S. lawmakers move closer to enacting supportive cryptocurrency legislation.
