Bitcoin, the world’s largest cryptocurrency, reached a new all-time high on July 11, 2025, briefly surpassing $118,800 on major exchanges. This milestone marks a continuation of a powerful rally fueled by strong institutional inflows, favorable regulatory developments, and growing corporate adoption.
What Happened
After a period of consolidation, Bitcoin’s price surged over 4% in a single day, driven largely by record-breaking inflows into Bitcoin exchange-traded funds (ETFs). On July 10, Bitcoin ETFs recorded their largest inflow day of 2025, totaling approximately $1.18 billion, while Ether ETFs also saw significant capital entering the market.
This institutional demand helped push Bitcoin’s market capitalization above $2.3 trillion, surpassing the market cap of major technology giants like Alphabet and Meta, and even overtaking silver as an asset class.
Key Drivers Behind the Rally
Institutional Adoption: Growing participation by hedge funds, asset managers, and corporate treasuries has increased liquidity and legitimized Bitcoin as a reserve asset.
Regulatory Clarity: The appointment of crypto-friendly regulators and clearer frameworks have reduced uncertainty, encouraging more institutional capital.
Macroeconomic Factors: Inflation concerns, geopolitical tensions, and market volatility have driven investors toward Bitcoin as a potential hedge and store of value.
Technological and Market Developments: Advances in blockchain infrastructure and the rise of Bitcoin ETFs have made access easier and safer for a broader investor base.
“Bitcoin is increasingly being integrated into institutional portfolios and corporate treasury strategies, reflecting its maturation as a digital asset class.”
— Gerry O’Shea, Head of Global Market Insights, Hashdex