Bitcoin hit a new all-time high above $117,000 early Friday morning, driven by rising institutional appetite and positive signals from the industry.
The world’s largest cryptocurrency rose 5.5% in the past 24 hours to reach $117,176 at the time of writing, according to The Block’s price page. Ether jumped 7.3% to trade at $2,981.
“We believe that bitcoin hitting another all-time high is a major signal that the industry is on the cusp of kicking off a major bull run,” Jeff Mei, COO of crypto exchange BTSE told The Block.
Vincent Liu, CIO of Kronos Research, said that calmer macro conditions and rising institutional adoption have “reignited interest in bitcoin.”
“The shift reflects growing confidence in BTC as a regulated, long-term asset similar to gold,” said Liu. “Strong institutional demand may continue unless macro uncertainty around the July 15 CPI data sparks profit-taking and cools momentum.”
The crypto market appears to see strong institutional demand, with spot bitcoin exchange-traded funds recording $1.18 billion in inflows on Thursday — the second-highest daily inflow since their launch.
“The recent surge in inflows to spot bitcoin ETFs appears driven by renewed expectations of U.S. interest rate cuts and increased institutional appetite,” said Min Jung, research analyst of Presto Research.
“We’re seeing more companies, following Strategy’s lead, incorporate bitcoin into their strategic asset allocation. This broadening base of demand, combined with improved institutional accessibility since the ETF approvals, has helped propel bitcoin toward new all-time highs,” Jung added.
While short-term uncertainties such as potential tariff risks continue to loom over the market, several positive factors are expected to drive continued growth in the crypto space, according to Jung.
“Looking ahead, while short-term uncertainties like tariff risks persist, we believe the onset of a rate-cutting cycle and growing institutional adoption offer strong tailwinds.” said Jung. “These factors suggest that demand for spot bitcoin ETFs could remain robust in the medium term, especially as bitcoin’s role in diversified portfolios continues to evolve.”
Investors are also closely watching recent regulatory developments, said Nick Ruck, director of LVRG Research. “Recent regulations, such as the GENIUS Act and the removal of a key crypto broker tax rule, have fueled institutional demand for bitcoin and other major cryptocurrencies as costly barriers and legal complications are gradually removed from traditional financial systems,” said Ruck.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
