The world’s largest cryptocurrency has grown by 2% over the past month and set a new record, rising to $111,999 at the time. Within a day, Bitcoin had already broken the record and jumped to over $118,000.
The world’s largest cryptocurrency has grown by 2% over the past month and set a new record, rising to $111,999 at the time. Within a day, Bitcoin had already broken the record and jumped to over $118,000.
As CNBC reports, citing Coin Metrics, the price of Bitcoin rose 1,9% to $110,947.49. It later rose to $111,999, surpassing the previous May high of $111,948.
The cryptocurrency has been trading in a narrow range for weeks, despite billions of dollars pouring into Bitcoin exchange-traded funds. In the second quarter, Bitcoin purchases by public companies exceeded inflows into ETFs. However, Bitcoin is up just 2% over the past month.
But on Friday, July 11, Bitcoin set a new record high, rising above $118,000 per virtual coin. Thus, the monthly growth was already 8,46%.
The growth is attributed to the fact that traditional financial market players are starting to embrace cryptocurrencies, with Bitcoin often seen as the most reliable. In the US, the Trump administration has introduced a number of crypto-friendly measures in the past few months, which has helped to strengthen the market’s confidence in cryptocurrencies in general.
Investors expect Bitcoin to reach new highs in the second half of the year as corporate treasuries accelerate their crypto purchases and the US Congress moves closer to passing cryptocurrency legislation.
«With Crypto Week coming up next week in Washington and a likely influx of positive momentum ahead of the summer heat, bullish sentiment and lower trading volumes could see prices rally to $120,000 or higher by the end of next week,» said Ryan Gorman, chief strategist at Uranium Digital, which tokenizes the uranium market.
The recent success of cryptocurrencies has many in the industry optimistic about the second half of 2025, the Independent notes. A new survey of crypto analysts found that the average Bitcoin price forecast for the end of the year is $145,167.
A survey published on Wednesday by financial comparison site Finder gathered predictions from 22 leading figures who believe the cryptocurrency will reach $458,000 by the end of the decade.
