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Bitcoin (BTC-USD) surged to a new all-time high on Friday, climbing above $118,000 in a powerful rally fueled by growing enthusiasm across tech and risk assets. The breakout aligns with AI leader Nvidia’s (NVDA) historic leap to a $4 trillion market cap and record highs for the Nasdaq Composite and S&P 500, reinforcing Bitcoin’s longstanding correlation with tech stocks.
Crypto analyst Nic Puckrin of Coin Bureau noted that Bitcoin’s steady rise—about 21% year to date—has been driven by favorable Trump-era crypto policies, including the creation of a strategic bitcoin reserve. While the token had been locked in a relatively stable $10,000 trading range for the past two months, the current move is seen more as a pressure release than the beginning of a final bull run.
The rally arrives just days before the U.S. Congress launches “Crypto Week” on July 14, where lawmakers will review bills that could reshape crypto regulation. The GENIUS Act, which sets a federal framework for stablecoins, is among the key proposals. A positive regulatory outcome could spark increased institutional investment, according to Kaiko CEO Jesse Jarvis.
Publicly traded crypto firms are also riding the wave: shares of Circle (CRCL), which issues the USDC stablecoin, have jumped over 500% since its June IPO, while Robinhood (HOOD) and Coinbase (COIN) posted gains on Thursday.
With Bitcoin breaking records and regulation on the horizon, the stage is set for a potentially transformative moment in the crypto space.
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Ecuador has launched a massive coordinated crackdown on two of the country's most powerful criminal organizations, with support from U.S. authorities targeting international cocaine-trafficking...
Brazil has hit TikTok with one of the country's biggest penalties against a social media platform, fining its parent company ByteDance R$153.7 million — approximately US$30 million — over failures...
Brazil has hit TikTok with one of the country's biggest penalties against a social media platform, fining its parent company ByteDance R$153.7 million — approximately US$30 million — over failures...
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