TL;DR
- Bitcoin hit $118,900 on July 11, its second record high in under 24 hours, surpassing Thursday’s peak of $113,822.
- The price is now more than 50% higher than April’s $76,000 low, with analysts eyeing $150,000 as the next psychological trigger point.
- Contributing factors include President Trump’s pro-crypto executive order, a new strategic Bitcoin reserve, and increased institutional buying.
- Volatility remains a key risk factor as investors pile in amid speculative optimism.
Bitcoin Blasts Past $118K—A 24-Hour Double High
In a dramatic rally, Bitcoin surged to $118,900 on Friday morning, setting a new all-time high just one day after breaking records at $113,822. At the time of writing, Bitcoin is trading slightly below the peak, hovering near $117,400.
This breakout marks a significant recovery from April 2025, when the world’s largest cryptocurrency dipped to around $76,000, and a dramatic reversal from August 2024’s near-bottom of $49,000.
Institutional Demand and U.S. Policy Fueling the Rally
Analysts attribute the price rally to surging institutional interest and a pro-Bitcoin stance by the Trump administration.
In March 2025, President Donald Trump signed a landmark executive order that established a federal Bitcoin reserve, positioning the asset as a “strategic digital commodity.” This move has encouraged banks, hedge funds, and pension institutions to allocate capital toward Bitcoin.
“Once the federal government embraces Bitcoin as a strategic reserve asset, it signals long-term legitimacy. That pulls in institutions,” said a report by Galaxy Digital.
This shift has effectively opened the door for broader financial sector integration, a catalyst that many believe could propel Bitcoin past $150,000 in the coming months.
Bitcoin’s Price Journey Over the Past Year
| Date | Price (USD) | Milestone |
| August 2024 | ~$49,000 | Post-ETF sell-off low |
| April 2025 | ~$76,000 | Correction following ETF-driven gains |
| July 10, 2025 | $113,822 | Previous all-time high |
| July 11, 2025 | $118,900 | New all-time high |
| July 11, 2025 (Now) | ~$117,400 | Current trading range |
| Target (Analysts) | $150,000 | Speculative breakout level |
A Milestone for Crypto, But Volatility Persists
While excitement builds, seasoned investors are urging caution. Bitcoin’s volatility—a well-known trait—means prices can drop just as rapidly as they rise.
“We’re in the midst of a speculative uptrend, but history reminds us that corrections come quickly,” said Lyn Alden, founder of Lyn Alden Investment Strategy.
Events like whale profit-taking, regulatory pushbacks, or macroeconomic tightening could all reverse the current gains. Bitcoin remains highly sensitive to global liquidity conditions and central bank policy signals.
What Happens If Bitcoin Hits $150K?
Many traders are watching the $150,000 level as the next major psychological and technical resistance point. If breached, analysts say it could unleash another wave of retail FOMO (fear of missing out) and algorithmic fund rebalancing, pushing the market higher.
However, analysts also caution against viewing $150,000 as a guaranteed milestone:
- Coinbase Institutional released a note warning that liquidity gaps above $120,000 could create flash corrections.
- Bitwise Asset Management suggested the current rally is already “technically overextended” by historical RSI metrics.
Political Tailwinds: The Trump Effect
President Trump’s explicit embrace of Bitcoin represents a paradigm shift from previous regulatory ambiguity. His administration’s executive order mandates the Department of the Treasury to maintain Bitcoin reserves as part of a broader digital asset diversification strategy.
This move is not only symbolic but also materially impactful:
- It introduces state-level demand.
- It creates a federal custodian framework for Bitcoin.
- It boosts confidence among traditional finance institutions.
“We’re no longer fighting for legitimacy — we’re entering the era of strategic adoption,” said Caitlin Long, CEO of Custodia Bank.
Market-Wide Crypto Impact
Bitcoin’s surge is also lifting altcoins, many of which are moving in tandem:
- Ethereum (ETH) rose 7.4% in the past 24 hours to $6,420.
- Solana (SOL) jumped 12%, crossing $275.
- Chainlink (LINK) and Avalanche (AVAX) also posted double-digit gains.
Meanwhile, Grayscale Bitcoin Trust (GBTC) and Bitcoin ETFs have seen record inflows from retail and institutional players alike.
Crypto Exchanges Under Pressure to Scale
Exchanges like Coinbase, Binance, and Kraken are reportedly seeing traffic spikes as new users sign up to join the rally.
“We are scaling up capacity after a 400% surge in onboarding requests in the last 48 hours,” said a Coinbase spokesperson in a statement to TechCrunch.Meanwhile, regulators are closely watching exchange liquidity and consumer protection standards, especially as demand surges from retail participants in emerging markets.
