Bitcoin surged to a new record high on Wednesday, climbing to $109,481.83, and surpassing its previous peak set in January. The 2% daily gain reflects growing investor confidence following last month’s tariff-driven market turbulence.
The rise comes as risk sentiment improves across global markets, with Bitcoin continuing to behave similarly to high-growth tech stocks. The Nasdaq Composite, heavily weighted with technology firms, has rebounded strongly—up 30% since early April.
Bitcoin’s gains have also been supported by continued weakness in the U.S. dollar, which makes the cryptocurrency more attractive in international markets.
Analysts point to increased institutional interest as a key driver behind the rally. This week, attention focused on JPMorgan CEO Jamie Dimon, a long-time crypto skeptic, who acknowledged that the bank’s clients are now actively investing in Bitcoin. In a further sign of mainstream adoption, Coinbase is set to join the S&P 500 later this month.
Despite the positive momentum, Coinbase disclosed on Monday that it is under investigation by the U.S. Department of Justice over a recent data breach. So far, the news has done little to dampen enthusiasm in the broader crypto market.
Bitcoin’s latest surge underscores its resilience and growing relevance as a speculative and institutional asset amid evolving market dynamics.
