Bitcoin reaches record high of $118,000, showing 21% increase in 2025
Bitcoin recently reached a remarkable milestone, hitting an all-time high of $118,000, representing a 21% increase for the year 2025. This surge in value has been attributed, in part, to the Trump administration’s favorable policies towards cryptocurrencies, including the establishment of a strategic bitcoin reserve and a broader digital asset stockpile. Dilin Wu, a research strategist at Pepperstone, highlighted the significant role of institutional players in fueling this rally, pointing out the increasing participation of corporations like Strategy and GameStop in adding bitcoin to their balance sheets. Trump Media & Technology Group’s recent filing for approval to launch a “Crypto Blue Chip ETF,” with a majority of holdings in bitcoin, further underscores the growing acceptance and integration of cryptocurrencies in mainstream financial markets.
The timing of bitcoin’s record-breaking performance comes just before the commencement of Congress’s highly anticipated “Crypto Week” on July 14. During this period, lawmakers will engage in discussions and deliberations on various bills aimed at shaping the regulatory landscape for the cryptocurrency industry. One such bill under consideration is the GENIUS Act, which seeks to establish a federal framework for stablecoins, a significant development that could bring greater stability and regulation to the crypto market.
Technical analyst Katie Stockton, founder, and managing partner of research firm Fairlead Strategies, expressed optimism about bitcoin’s future trajectory, projecting a potential increase to $134,500, which would represent a 14% rise from current levels. This bullish sentiment is mirrored in the broader cryptocurrency market, with other digital assets experiencing notable gains as well. Ethereum, for instance, has surged by over 16% in the past five days, while DOGE registered an 8% increase in value within a single day. The positive momentum in the market also led to the liquidation of over $1 billion in short positions in the last 24 hours, as the rising price of bitcoin prompted traders to close their positions, as noted by Thomas Perfumo, a global economist at crypto Kraken.
The ongoing bullish trend in the cryptocurrency market reflects a growing acceptance and adoption of digital assets by institutional investors and corporations, signaling a broader shift towards mainstream recognition. As the regulatory landscape continues to evolve, with lawmakers shaping the framework for the industry’s future, cryptocurrencies like bitcoin are poised to play an increasingly prominent role in the global financial system. The current surge in value and market activity underscore the resilience and potential of cryptocurrencies, positioning them as a significant asset class for investors seeking growth opportunities in the digital economy.
