What Happened:
Bitcoin hit a new all-time high Wednesday, reaching $109,500 before settling around $108,955, a 2% gain on the day.
Historic Context:
This surpasses the previous record set in January 2025. It marks a strong rebound from April’s low of $74,000.
Market Drivers:
- Softer U.S. inflation data
- Easing U.S.-China trade tensions
- Moody’s downgrade of U.S. sovereign debt
- Growing demand for alternative assets like bitcoin
Investor Activity:
- Bitcoin ETFs have seen $40B in cumulative inflows
- On-chain data shows reduced selling pressure and increased liquidity (record Tether balances on exchanges)
- Public companies now hold 15% of the bitcoin supply, up 31% this year
Regulatory Momentum:
- U.S. Senate advanced stablecoin legislation
- President Trump wants a crypto regulation bill on his desk by August
Industry Milestone:
Coinbase added to S&P 500, signaling broader institutional acceptance of crypto.
