Bitcoin hits new all-time high above $113,000, up 96% year over year
Quick Take Bitcoin surpassed $113,000 for the first time on July 10, with the asset trading at $113,569.79 as of publication. Just yesterday, bitcoin broke past $112,152 for the first time before receding to the $111,000 mark.
Bitcoin, the world's most valuable cryptocurrency by market capitalization, smashed another all-time high just one day after breaking its record of $112,000.
The latest milestone comes a day after bitcoin broke past $112,000 for the first time. Within the past day, bitcoin's price increased 3.76%, and the asset has generated $36.5 billion in trading volume.
Bitcoin’s price has climbed nearly 22% since the start of 2025 and is up approximately 96% from the same time last year.
"Bitcoin’s institutionalization has accelerated since the launch of the ETFs 18 months ago," Hashdex Asset Management Head of Global Market Insights Gerry O'Shea told The Block in an email. "Its recent price trajectory — including surpassing the $113,000 mark today — reflects ongoing interest from both individuals and businesses."
The rally has been fueled in large part by the Trump administration's updated tariff schedule, which lowers volatility concerns, and tech billionaire Elon Musk's unveiling of a new political party that would support Bitcoin, among other factors, The Block previously reported.
Additionally, corporate demand has also played a key role. An increasing number of publicly traded firms have gobbled up bitcoin this year in crypto-focused treasury strategies. Michael Saylor's software firm Strategy led the endeavor and still maintains the largest corporate crypto treasury at over $64 billion — despite pausing its BTC buying spree for the first time in three months on July 7. Other firms followed suit, including K Wave Media , KULR Technologies, and the Japanese energy and cryptocurrency services firm Remixpoint .
Bitcoin first broke past $100,000 on December 4, 2024, largely due to the pro-crypto stance of United States President Donald Trump, who won the 2024 election. Trump had promised to make America a global leader in cryptocurrency, even implementing the first-ever " crypto czar " role in the White House to help oversee digital asset regulation. Some states have followed federal enthusiasm toward crypto, with New Hampshire , Arizona, and Texas creating strategic bitcoin reserves.
Bitcoin maintains a market cap of $2.3 trillion, the highest among all cryptocurrencies. Ethereum comes second at a $339.6 billion market cap.
(Update: July 10, 19:39 UTC: Includes comment from Gerry O'Shea.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mars Morning News | Federal Reserve officials send strong hawkish signals again, December rate cut in doubt
The crypto market has generally declined, with bitcoin and ethereum prices falling and altcoins experiencing significant drops. Hawkish signals from the Federal Reserve have affected market sentiment, and multiple project tokens are about to be unlocked. Early ethereum investors have made substantial profits, and expectations for a continued gold bull market persist. Summary generated by Mars AI. The accuracy and completeness of this summary, generated by the Mars AI model, are still being iteratively improved.
IOTA collaborates on the ADAPT project: Building the future of digital trade in Africa together
IOTA is collaborating with the World Economic Forum and the Tony Blair Institute for Global Change on the ADAPT project. ADAPT is a pan-African digital trade initiative led by the African Continental Free Trade Area. Through digital public infrastructure, ADAPT connects identity, data, and finance to enable trusted, efficient, and inclusive trade across Africa.
Trending news
MoreCrypto prices
More
