Bitcoin Hits an All-Time High of $118,000, Up 21% for 2025

Bitcoin 'vaulted to a fresh all-time high Friday, breaking above $118,000,' reports Yahoo Finance:

Year to date, the token is up roughly 21%, buoyed in part by crypto-friendly policies from the Trump administration, including the establishment of a strategic bitcoin reserve and a broader digital asset stockpile... 'At the heart of this rally lies sustained structural inflows from institutional players,' wrote Dilin Wu, research strategist at Pepperstone. 'Corporates are also ramping up participation,' he added. The analyst noted companies like Strategy and GameStop have continued to add bitcoin to their balance sheets. Trump Media & Technology Group this week also filed for approval to launch a 'Crypto Blue Chip ETF', which would include about 70% of its holdings in bitcoin.
The timing of bitcoin's breakout also comes days before Congress kicks off its highly anticipated 'Crypto Week' on July 14. Lawmakers will debate a series of bills that could define the industry's regulatory framework... The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins.
'After jumping above $118,000 on Thursday, technical analyst Katie Stockton, founder and managing partner of research firm Fairlead Strategies, believes bitcoin is on track to reach $134,500, about 14% higher than current levels,' writes Business Insider.

It's not just bitcoin that's jumped this week. Other cryptos are surging as well. Ethereum has rallied over 16% in the past five days, and as DOGE rose 8% in the last day alone... Additionally, over $1 billion in short positions were liquidated in the last 24 hours as the price of bitcoin surged and traders were forced to close their positions, [said Thomas Perfumo, global economist at crypto Kraken].

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