Bitcoin soared to a new all-time high of $111,999 late Wednesday, extending a robust rally that commenced in late June. The world's largest cryptocurrency is currently trading at $111,335, marking a 2.37% increase over the past 24 hours, according to Coinmarketcap data. This latest milestone caps a remarkable three-week ascent, which saw Bitcoin climb approximately 14% from its June 22 trading level near $98,000.
Analysts attribute this sustained upward momentum to persistent buying pressure from institutional investors and increasing corporate adoption. A significant catalyst cited by experts is the crypto-friendly regulatory environment fostered under the current Trump administration. This has particularly encouraged companies to embrace Bitcoin as a treasury asset, with several major firms integrating the digital currency into their balance sheets, providing strong fundamental support for its price trajectory throughout 2025.
Furthermore, recent market analysis suggests that ongoing geopolitical tensions, specifically the Israel-Iran conflict and U.S. intervention, have contributed to heightened social volume and trading activity surrounding Bitcoin. This trend mirrors historical patterns where global uncertainties have often driven investors toward alternative assets.
BlackRock ETF Sets New Benchmarks
Coinciding with Bitcoin's record-breaking performance, BlackRock's iShares Bitcoin Trust (IBIT) also reached a new all-time high of $63.58 on Wednesday. The $75 billion ETF now commands over 700,000 BTC, representing approximately 3.33% of Bitcoin's total supply.
In a significant achievement for the 18-month-old fund, IBIT is now generating an estimated $187.2 million in annual fee revenue. This impressive figure surpasses the $187.1 million earned by BlackRock's well-established S&P 500 ETF (IVV), according to Bloomberg data. This milestone underscores the explosive growth in institutional Bitcoin adoption through regulated investment vehicles.
Broader Market Momentum and Favorable Economic Outlook
Bitcoin's surge occurred amidst a strong showing in traditional markets, with the S&P 500 gaining 0.61% and the Nasdaq reaching a record closing high with a 0.9% climb. The broader cryptocurrency market has responded positively, with its total market capitalization now standing at $3.47 trillion, up 3.1% in the last 24 hours.
Within the crypto space, Ethereum saw a notable gain of 6.66% to reach $2,780, while Solana advanced 4.23% to $158.76, indicating widespread strength across major digital assets. Shares of cryptocurrency exchange operator Coinbase Global (COIN) also jumped 5.4%, extending its year-to-date gains to over 50%.
Adding to the overall risk-on sentiment, newly released minutes from the Federal Open Market Committee (FOMC) meeting indicated that policymakers believe tariff-related inflationary pressures will remain moderate. Crucially, the Federal Reserve continues to anticipate interest-rate cuts in 2025, providing a favorable macroeconomic backdrop for risk assets, including cryptocurrencies.
July 2025, Cryptoniteuae