Bitcoin soared to a fresh record on Thursday, vaulting above $111,000 for the first time, as macroeconomic jitters and regulatory optimism fueled buying interest.
The world’s largest digital coin reached as high as $111,861, according to Binance, before dropping to $110,607 per coin.
The cryptocurrency’s persistent rally has come amid a downturn in U.S. equities, breaking its customary correlation with tech stocks and signaling a shift as investors seek havens outside traditional assets.
Momentum is surging on expectations for supportive U.S. crypto regulation and steady institutional inflows, said James Butterfill, head of research at CoinShares. He added that the narrative of bitcoin as a hedge has gained steam following Moody’s recent downgrade of the U.S. sovereign credit rating.
Meanwhile, regulatory clarity is advancing as the GENIUS Act — a bill targeting stablecoin oversight — cleared a key Senate hurdle. The Trump administration’s regulatory push, bolstered by support from AI and crypto advisor David Sacks, has also buoyed sentiment in the sector.
Adding further momentum, JPMorgan Chase’s CEO Jamie Dimon—long a critic of bitcoin—said yesterday that the banking giant will now allow clients to invest in the cryptocurrency, marking a notable shift from Wall Street’s biggest names.
