Bitcoin Surpasses $111,000
Bloomberg reports that Bitcoin has, for the first time, exceeded $111,000, leading many traders to feel optimistic about the future of this original cryptocurrency. Institutional demand, alongside backing from Donald Trump’s administration, seems to be fueling this positivity.
On Thursday, Bitcoin surged by 3.4%, reaching a new high of $111,980. This uptick was echoed by smaller cryptocurrencies as well, with ether even rising approximately 7.3% at one point.
This notable rise coincided with a dinner hosted by the president for top holders of his $Trump Memecoin at a golf club near Washington. “The US controls crypto, bitcoin and more. We’re going to keep it that way!” he remarked.
With ongoing developments regarding a major stubcoin bill in the US Senate, there’s a growing appetite for clear regulations regarding digital assets under Trump. Michael Saylor’s strategy has amassed more than $60 billion in Bitcoin.
Joshua Lim, co-head of the market at Falconx Ltd., commented, “This has crushed the newest slow motion ever.” In a related move, a company previously known as MicroStrategy filed on Thursday to sell 10% of its contested preferred stock, raising up to $2.1 billion to fund further Bitcoin acquisitions.
Meanwhile, affiliates from Cantor Fitzgerald LP are joining forces with Tether Holdings SA and SoftBank Group to initiate Twenty One Capital Inc., which mirrors the strategy model. Additionally, a subsidiary of Strive Enterprises Inc., co-founded by Vivek Ramaswamy, has merged with Asset Entities Inc., now registered with Nasdaq, to create Bitcoin Treasury Company.
Julia Zhou, COO of Crypto Market Maker Caladan, noted, “Unlike the previous cycle, this rally isn’t just momentum driven. It’s quantitatively supported by measurable and sustainable disruptions in supply.”
As for Bitcoin’s performance, it’s increasingly distancing itself from smaller cryptocurrencies. An index tracking altcoins has dropped around 40% since the start of the year, while Bitcoin has posted an 18% increase so far in 2025.
In May, US Bitcoin Exchange Trade Funds attracted significant inflows, totaling about $4.2 billion. Moreover, traders built a notable Bitcoin position in the options market recently, with calls for $110,000, $120,000, and $300,000 expiring on June 27th—showing substantial interest in derivative agreements.
IG market analyst Tony Sycamore mentioned in a recent memo that the new record indicates the sharp decline of Bitcoin below $75,000 in April was merely a “fix within the bull market.” He added, “To raise the next leg to $125,000, you’ll need a sustained break above $110,000.”
