Bitcoin hits new record high above $111,000, continuing a powerful rally that’s defying broader market trends. The world’s largest cryptocurrency soared to $111,886.41 during early London trading on Thursday, according to Coin Metrics, before easing slightly to around $111,012.00.
This new peak marks a major milestone for Bitcoin, which has surged in recent weeks due to a mix of favorable macroeconomic signals and regulatory momentum in the United States.
James Butterfill, head of research at CoinShares, said the surge is being fueled by “positive momentum, growing optimism around U.S. crypto regulation, and sustained interest from institutional investors.”
Notably, Bitcoin’s breakout comes amid a downturn in U.S. stock markets. Historically, the cryptocurrency has moved in tandem with tech-heavy indices like the Nasdaq. However, this divergence suggests investors may now be viewing Bitcoin as an independent store of value.
Bitcoin hits new record high above $111,000 partly in response to last week’s credit rating downgrade of U.S. sovereign debt by Moody’s. The downgrade intensified fears around fiat currency stability, driving more capital into decentralized assets like Bitcoin.
Butterfill said the downgrade reinforced Bitcoin’s reputation as a hedge against fiat volatility, a narrative that continues to attract global investors.
Meanwhile, regulatory clarity in the U.S. is also helping boost sentiment. The GENIUS Act, a bill aimed at regulating stablecoins, recently passed a key procedural vote in the Senate. The legislation has been strongly supported by U.S. President Donald Trump and David Sacks, his AI and crypto policy chief.
Their pro-crypto stance has bolstered confidence in the future of digital assets under Trump’s administration.
In another surprising development, JPMorgan CEO Jamie Dimon, once one of Bitcoin’s harshest critics, announced the bank would now allow clients to buy Bitcoin. This institutional shift signals growing acceptance of digital assets on Wall Street.
As investors look for alternatives amid rising fiscal concerns and a weakening dollar, Bitcoin hits new record high above $111,000 and continues to gain global traction as a financial safe haven.
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