Bitcoin Price Surpasses $111,000 Today, Sets All-Time High on Regulatory Momentum and ETF Inflows
Bitcoin broke a new all-time high on Thursday, surpassing $111,000, boosted by regulatory progress in the United States and steady inflows into spot Bitcoin ETFs.
Bitcoin (BTC) – the world’s largest cryptocurrency – rose 3.8% to $111,588 by 00:55 ET (04:55 GMT), after hitting a new high of $111,834, well above its previous peak of over $109,000.
Bitcoin has gained more than 18% since the beginning of May, reflecting a strong recovery and positive market sentiment.
GENIUS Act and US Digital Strategy Fuel Markets
The recent rally has been fueled by optimism surrounding the GENIUS Act, the “National Stablecoin Innovation Guide and Establishment for the United States,” which is currently under consideration in the US Senate.
If passed, the bill would establish a clear legal framework for stablecoins – paving the way for comprehensive crypto regulation and greater participation from traditional financial institutions.
The bill is expected to be voted on this week and, if passed, will be sent to President Donald Trump for his signature.
The Trump administration also established the “Strategic Bitcoin Reserve” in March, marking a clear move to position the US as a global leader in the digital asset space.
Spot ETFs and Institutional Adoption Drive Demand
Aside from regulatory factors, steady inflows into US spot Bitcoin ETFs continue to act as a key growth catalyst.
According to analysts, the price rally reflects a shift in perception: Bitcoin is no longer a short-term speculative asset but is increasingly being viewed as a long-term store of value, similar to gold.
Major names like Fidelity and BlackRock (NYSE: BLK) have expanded their crypto-related operations and services, confirming the trend of digital asset adoption.
Wall Street’s shift in stance and notable milestones
The shift in stance from traditional finance has also contributed to increased market confidence. This week, JPMorgan CEO Jamie Dimon, once a Bitcoin critic, announced that the bank would allow clients to buy BTC, marking a significant pivot from Wall Street.
Additionally, Coinbase (NASDAQ: COIN) – the leading cryptocurrency exchange – became the first company in the crypto sector to join the S&P 500 index in early May.
“Many institutional investors are now looking at Bitcoin as a long-term asset, not just a speculative trend,” Stephen Wundke, chief strategy officer at Algoz, told Investing.com.
Altcoins Follow Bitcoin's Lead
Bitcoin's strong growth also spills over into the altcoin market:
Ethereum (ETH) up 1.3% to $2,627.06
Solana (SOL) up 3.6%
Cardano (ADA) up 4.5%
Polygon (MATIC) up 6%
Dogecoin (DOGE) up 4%
$TRUMP – a meme token inspired by Donald Trump – jumped 7%
XRP, meanwhile, was little changed and held at $2.4109.
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