Bitcoin (BTC) has officially broken past the psychological threshold of $112,000 — its all-time high from May — and continued surging, setting a new record around $117,000 across major exchanges.
This latest rally stems from a prolonged consolidation period in the $102,000–$107,000 range. The de-escalation of the Israel–Iran conflict, combined with the Trump administration’s announcement of reciprocal tariffs starting in August, has helped both the stock and crypto markets shake off recent negative pressures. For Bitcoin specifically, pent-up buying power has finally been unleashed, especially after major institutions like Strategy, Metaplanet, ProCap, and Bitcoin ETFs collectively purchased over $6 billion worth of BTC in the past month.
Source: Crypto Bubble
On top of that, the trend of publicly listed companies establishing Bitcoin investment funds following Strategy’s model shows no signs of slowing down, adding further potential buying momentum for BTC in the near future.
Western investors remain highly optimistic about Bitcoin’s outlook, particularly as crypto regulations in the U.S. stand a strong chance of being approved under Trump’s administration, alongside expectations that the Federal Reserve may soon begin cutting interest rates.
Major altcoins are also benefiting from Bitcoin’s fresh rally. On the morning of July 11th, Ethereum (ETH) briefly reclaimed the $3,000 mark — its first return to this key level since February. Meanwhile, Bitcoin closed the day at a historic high above $116,000 (UTC), confirming a clear upward trend.
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