Bitcoin (BTC) has once again made history by reaching a new all-time high (ATH) of approximately $112,000 on various cryptocurrency exchanges, with Binance leading the way. This surge of over 2 percent in the past 24 hours has propelled the flagship coin above its previous ATH of around $111,814, which was achieved on May 22, 2025.
With Bitcoin’s market cap now exceeding $2.2 trillion and its daily average trading volume up by 23.7 percent to around $53.7 billion, the digital asset has solidified its position as the fifth most valuable asset, surpassing Alphabet (Google) with a market cap of about $2.15 trillion.
The surge in Bitcoin price today can be attributed to several key factors. Institutional investors continue to show strong interest in Bitcoin, with U.S. spot Bitcoin ETFs attracting over $13 billion in net cash inflows over the past four months, led by BlackRock’s IBIT and Fidelity’s FBTC. Additionally, market data from Santiment indicates that bullish sentiment has been fueled by retail boredom and fear, with Bitcoin encountering a psychological resistance level around $109k amidst U.S.-led tariff wars and geopolitical tensions.
As Bitcoin continues to rally, the wider altcoin market, including Ethereum (ETH), XRP, and Solana (SOL), has also experienced positive momentum. The sudden surge in Bitcoin price has led to over $496 million in liquidations, primarily affecting short traders. This has increased the likelihood of a short squeeze, potentially further boosting bullish sentiment in the days and weeks ahead.
According to James Seyffart, an ETF and crypto reporter at Bloomberg, the start of the altseason in 2025 may have been signaled by Bitcoin’s recent price pump towards a new ATH. As the crypto market continues to evolve, investors are eagerly watching to see what the future holds for Bitcoin and the broader digital asset ecosystem.