Bitcoin Soars Past $118,000 to Hit New All-Time High as Tech and Crypto Rally Together

Bitcoin (BTC-USD) surged to a record-breaking high on Friday, climbing above $118,000, driven by renewed investor optimism and a broader rally across high-risk assets. The cryptocurrency’s powerful move comes amid bullish momentum in the tech sector, especially after Nvidia (NVDA) crossed a $4 trillion valuation, reinforcing the strong correlation between crypto and technology stocks.

Adding fuel to the rally, the Nasdaq Composite Index (^IXIC) hit a new record earlier this week, while the S&P 500 (^GSPC) was on track to do the same by Thursday. These tech-led gains have significantly boosted sentiment in the digital asset space.

“Historically, Bitcoin has remained highly correlated with tech stocks, and this correlation is still playing out,” said Nic Puckrin, founder of the Coin Bureau.

Bitcoin Gains 21% in 2025 as Pro-Crypto Policies Spur Institutional Demand

Year-to-date, Bitcoin has climbed more than 21%, driven by favorable regulatory shifts under the new U.S. administration. These include the creation of a strategic Bitcoin reserve and the development of a federal digital asset stockpile, further legitimizing Bitcoin’s role as a macroeconomic asset.

Over the past two months, Bitcoin’s price hovered within a narrow $10,000 trading range, signaling an unusually stable phase for a traditionally volatile asset.

“This rally is primarily fueled by consistent institutional inflows as major investors gain confidence in crypto’s long-term potential,” said Dilin Wu, senior market analyst at Pepperstone.

Corporate Adoption Accelerates: Bitcoin Finds a Place on Big Balance Sheets

With growing mainstream acceptance, leading companies are now incorporating Bitcoin into their treasury reserves and payment systems, signaling a broader shift toward digital asset adoption. Companies like MicroStrategy (MSTR) and GameStop (GME) have continued to add Bitcoin to their balance sheets, signaling growing confidence in the asset’s long-term value.

In a notable move this week, Trump Media & Technology Group (DJT) submitted a filing for approval to launch a new “Crypto Blue Chip ETF.” The proposed ETF would include approximately 70% exposure to BTC, targeting long-term investors and institutional buyers.

Regulatory Tailwinds Ahead of ‘Crypto Week’ in Congress

Bitcoin’s breakout comes just days before the start of Congress’s much-anticipated “Crypto Week” on July 14, when lawmakers are expected to debate several bills that could shape the future regulatory framework of digital assets in the U.S.

“A favorable outcome could accelerate institutional inflows, reinforcing Bitcoin’s role as a macro asset and strengthening confidence in compliant crypto platforms,” said Jesse Jarvis, CEO of Kaiko AI.

Among the key legislative proposals is the GENIUS Act, a bill aimed at establishing a federal framework for stablecoins. The legislation was recently passed in the Senate and is now headed to the House for discussion.

Stablecoin Stocks and Crypto Trading Platforms Surge in Anticipation

Shares of Circle (CRCL), the issuer of stablecoin USDC (USDC-USD), climbed approximately 2% on Thursday. Since its IPO on June 5, Circle’s stock has skyrocketed more than 500%, reflecting growing investor enthusiasm for stablecoin adoption.

Trading platforms like Robinhood (HOOD) and Coinbase (COIN) also saw gains during Thursday’s session, buoyed by expectations of increased trading volume and institutional activity if favorable regulations are passed during “Crypto Week.”

Conclusion: Bitcoin’s Breakout Signals New Phase in Crypto Market Maturity

Bitcoin’s surge past $118,000 marks more than just a new all-time high—it signals a transformational shift in investor behavior, government support, and corporate adoption. With the convergence of tech innovation, favorable regulation, and mainstream finance, BTC is positioning itself as a legitimate macro asset in global markets.

As Congress prepares to potentially greenlight comprehensive crypto legislation, all eyes remain on Bitcoin and the broader digital asset ecosystem. Whether this is the beginning of a long-term supercycle or another historic rally, one thing is clear: BTC’s momentum is stronger than ever.