Bitcoin surged to a record high on Thursday (111K+), surpassing its previous peak set in January, as investor confidence rebounded following last month’s tariff-driven market sell-off.
The leading cryptocurrency climbed over 3% during the day, reaching $111,746+ on Thursday, its highest price ever.
Often trading in tandem with tech stocks and other risk-sensitive assets, Bitcoin’s rally mirrored broader market gains. The Nasdaq, heavily weighted toward technology companies, has rebounded sharply and is now up 30% from its early April low.
The rally also comes amid ongoing weakness in the US dollar, which has further strengthened Bitcoin’s exchange rate against the greenback.
Analysts and market participants point to increasing institutional involvement as a key driver of the cryptocurrency’s continued momentum.
This week, JPMorgan CEO Jamie Dimon — historically critical of digital assets — acknowledged that clients now have the option to buy Bitcoin.
Additionally, the recent inclusion of crypto exchange Coinbase in the S&P 500 has boosted investor confidence in the sector.
Despite the positive momentum, Coinbase revealed on Monday that the U.S. Department of Justice has launched an investigation into a recent data breach at the company — a development being closely watched by regulators and investors alike.
