Bitcoin prices continued their record-breaking run for a third day, surpassing $118,000 for the first time. The rally pushed bitcoin’s market capitalization closer to $2.5 trillion. The digital currency has gained more than 20% year-to-date.
The optimism was also reinforced by positive comments from US President Donald Trump on the social network Truth Social, who said that the cryptocurrency market is "skyrocketing" and that it is time for the US Federal Reserve (Fed) to lower interest rates.
The US president also stressed that technology stocks, industrials and the Nasdaq index have hit all-time record highs and the Fed should quickly lower interest rates to reflect this strength.
“There is no inflation,” Mr. Trump stressed in the article.
Bitcoin prices had plunged along with other risk assets in early April after Trump announced aggressive retaliatory tariffs on trading partners.
The optimistic sentiment was also reinforced by positive comments from US President Donald Trump (Photo: iStock).
However, the cryptocurrency and stock markets have bounced back impressively since then, despite recent uncertainties regarding the global geopolitical situation and new tariff statements from the US President.
Additionally, the US House of Representatives recently announced that next week is “crypto week” with a hearing on July 16 titled “Making America the Cryptocurrency Capital of the World .” Traders are looking for concrete signs after months of regulatory silence.
Mauricio Di Bartolomeo, co-founder of financial firm Ledn, said the surge was partly due to expectations of increased demand from a series of recently established crypto treasury companies.
These companies are planning to issue stocks or bonds to put bitcoin on their balance sheets with the goal of becoming indirect representatives of bitcoin on the stock market.
“Bitcoin has hit new highs thanks to continued demand from both retail and institutional investors,” Di Bartolomeo said in the report.
Bitcoin's historic rally comes even as global markets face macro risks, including escalating tensions over tariffs that the Trump administration is expected to impose starting in August.
Source: https://dantri.com.vn/kinh-doanh/gia-bitcoin-pha-dinh-moi-thoi-dai-20250712010450691.htm
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