- Bitcoin jumps 9%, hitting a new ATH above $118,000.
- Institutional buying and reduced exchange liquidity drive the rally.
- Trump’s pro-crypto policies and planned crypto ETF boost investor confidence.
- Ethereum and other altcoins also post strong gains.
Bitcoin at a Glance
As of today, Bitcoin (BTC) is trading at $118,180 on CoinMarketCap, surging nearly 6 % in the past 24 hours and marking a solid 24 % gain year-to-date. It commands a market cap of approximately $2.34 trillion on a circulating supply near 19.9 million BTC Reuters+15coinmarketcap.com+15coinmarketcap.com+15.
Also Read: Bitcoin Price Today: BTC Hits $64,397.76
Record Highs Fueled by Institutional Demand
Bitcoin soared to fresh all-time highs above $116,700–$118,000 in recent sessions—rotating between $116,781 and $118,018—as institutional interest intensified The Economic Times. The consistent 9 % plus one-day jump reflects this surge in demand.
Institutions Scoop Up Supply
Market analysts attribute the rally to significant institutional accumulation. Joshua Chu of the Hong Kong Web3 Association noted that “major players are scooping up supply and drying up liquidity on exchanges,” reinforcing upward pressure on BTC prices .
Pro-Crypto Policies Under Trump Administration
Another strong driver is the Trump administration’s favorable stance:
- A March executive order to establish a “strategic reserve” of cryptocurrencies.
- Key appointments of crypto-welcoming officials, including SEC Chair Paul Atkins and White House AI czar David Sacks.
- The Trump family’s foray into crypto finance: Trump Media & Tech Group filing to launch a multi-token ETF, featuring Bitcoin deccanherald.com+14Reuters+14The Economic Times+14.
These measures enhance institutional confidence and prompt fresh inflows into BTC.
Regulatory and Broader Market Tailwinds
The optimism isn’t limited to institutions. Favorable court decisions and upcoming crypto-focused bills—such as the Genius Act and Clarity Act—signal a potential easing of U.S. regulatory frameworks Reuters+6Reuters+6The Economic Times+6Reuters. In addition, a strengthening U.S. dollar amid global trade tensions has paradoxically coincided with BTC’s latest rally Reuters+1The Economic Times+1.
Macro Context & Ripple Effects
- Bitcoin dominance remains high at ~63.9 %, consolidating its lead in the crypto space coinmarketcap.com+15coinmarketcap.com+15Reuters+15.
- Other digital assets are benefiting in kind: Ethereum (ETH) is up roughly 5–6 %, crossing $3,000, and Dogecoin alongside Hedera have rallied by double-digit percentages .
What This Rally Tells Us
- Institutional accumulation has matured into a primary market catalyst.
- Regulatory clarity from Washington is fostering investor confidence.
- Macro-financial dynamics, including tariffs and U.S. dollar movement, are having nuanced interactions with crypto flows.
What to Watch Next
| Factor | Signal |
|---|---|
| OTC & Exchange Reserves | A continued drawdown in BTC holdings on exchanges would further limit supply. |
| Crypto-specific Legislation | Progress in U.S. bills could accelerate institutional inflows. |
| Macro Outlook | Federal Reserve tone and global trade tensions may indirectly shape crypto sentiment. |
Bitcoin’s ~9 % surge to a record above $118K is the culmination of aggressive institutional buying, reinforced by a pro-crypto policy environment, and buoyed by supportive market dynamics. With both regulatory and macro backdrops aligning, the rally could have legs—though volatility remains a hallmark of crypto, and any slowdown in policy action or dollar strength could introduce retracement risk.