Bitcoin surged to a new all-time high on Thursday, surpassing $111,000 as institutional adoption, regulatory developments, and investor demand for alternative assets continued to drive momentum. According to Coin Metrics, the cryptocurrency rose 3% to $111,529.78, after hitting an intraday peak of $111,886.41.
The latest rally extends Bitcoin's 2025 gains to over 18%, fueled by sustained inflows into Bitcoin ETFs and increased corporate accumulation. According to Bitcoin Treasuries, the number of bitcoins held by publicly traded companies has grown 31% since January, now totaling about $349 billion-or roughly 15% of total circulating supply.
"This trend will likely continue, especially as more companies tap public markets and ETF inflows remain strong," said Jeff Mei, COO of BTSE. "May alone saw $3.6 billion in net ETF demand."
Options traders are positioning for even greater upside. Deribit data shows the most open interest concentrated in contracts expiring in June with strike prices of $110,000, $120,000, and even $300,000.
Bitcoin's climb has defied the broader market environment. While U.S. equities dipped on Wednesday due to rising Treasury yields, Bitcoin decoupled from its typical correlation with the Nasdaq. Analysts attribute the divergence to renewed demand for "alternative stores of value," particularly after Moody's downgraded the U.S. credit rating earlier this month.
James Butterfill, head of research at CoinShares, told CNBC the move has been "driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers."
Adding to the bullish tone, JPMorgan Chase has reportedly opened access to Bitcoin for its clients. "As the largest bank in the U.S., its decision adds a new layer of legitimacy to Bitcoin, potentially nudging other traditional financial institutions toward similar offerings to avoid falling behind," said Ryan Lee, chief analyst at Bitget Research.
The crypto sector also scored symbolic wins this week. Coinbase was officially added to the S&P 500 index, and the Senate advanced the first federal crypto legislation, laying the groundwork for stablecoin regulation. President Donald Trump, alongside AI and crypto adviser David Sacks, has pledged to sign comprehensive crypto reform by August.
