The broader crypto market also rallied, strengthening the “digital gold” narrative for Bitcoin
New Delhi:
Bitcoin, the world’s leading cryptocurrency, has once again etched its name in financial history, soaring to an unprecedented all-time high of $116,046.44 on Thursday, July 10, 2025. This latest surge marks a major milestone, reinforcing Bitcoin’s growing legitimacy and integration into the global financial system.
The record-breaking rally, which saw Bitcoin climb approximately 24 per cent year-to-date, is largely attributed to a confluence of factors, primarily robust institutional demand and increasingly supportive policies from the United States government.
Why the jump?
A key driver behind this meteoric rise is the continued influx of institutional capital. Traditional financial giants, including hedge funds, sovereign wealth funds, and pension managers, are reportedly increasing their allocations to cryptocurrencies, viewing Bitcoin as a crucial hedge against inflation and a digital store of value amidst ongoing global economic uncertainties. Billions of dollars continue to flow into regulated Bitcoin Exchange-Traded Funds (ETFs), providing a familiar and accessible avenue for institutional investors to gain exposure to the digital asset.
Adding to the bullish sentiment are the crypto-friendly policies implemented by the current US President Donald Trump’s administration. In a landmark move, President Trump signed an executive order in March 2025, establishing a strategic reserve of cryptocurrencies. This, coupled with the appointment of pro-crypto figures to key regulatory positions within the US government, has provided much-needed regulatory clarity and significantly boosted investor confidence in the nascent asset class. Analysts are highlighting this as a “game-changer,” signalling the institutionalisation of crypto within the US monetary framework.
Broader Market Rally and “Digital Gold” Narrative
The positive momentum isn’t confined to Bitcoin alone. The broader cryptocurrency market is experiencing a significant rally, with major altcoins such as Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Cardano (ADA), XRP, and Litecoin (LTC) all recording substantial gains. This synchronised growth across the crypto ecosystem underscores a renewed and widespread bullish sentiment.
Furthermore, Bitcoin’s inherent scarcity, with a fixed supply of 21 million coins, continues to bolster its “digital gold” narrative. In an era of evolving global economics, investors are increasingly turning to Bitcoin as a perceived safe haven and a powerful tool for wealth preservation.
What Lies Ahead?
Having consistently traded above the $100,000 mark for over 60 consecutive days prior to this new peak, Bitcoin’s resilience has been remarkable. Market analysts are now keenly observing its next moves. Some technical models suggest the next psychological resistance level could be around $120,000 to $125,000 by year-end, especially if the US Federal Reserve signals further interest rate cuts. Others are even more optimistic, predicting a potential climb to $165,000 if the current momentum holds.
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