BTC Smashes Record, Climbs Above $116,000 for the First Time

Bitcoin Hits New All-Time High, Breaks Past $116,000

Bitcoin (BTC) set a new record on Thursday, surging past $116,000 as the cryptocurrency pushed beyond the range it’s been stuck in for months. The digital asset reached an intraday high of $115,469 during U.S. trading hours, rising 4.3% in the past 24 hours, according to CoinDesk data.

The latest milestone comes just a day after bitcoin briefly surpassed $112,000 on some exchanges before dipping back below $111,000 later in the session. A year ago, BTC was trading at around $57,704, meaning it has doubled in price over the past 12 months, despite some volatility earlier this spring.

Bitcoin’s recent momentum has been fueled by strong inflows into crypto ETFs, growing corporate adoption among treasury-focused companies, and a more supportive regulatory climate, said Gerry O’Shea, head of global market insights at Hashdex.

“Even with ongoing macroeconomic uncertainty, we believe the bull market still has room to run,” O’Shea wrote in a note. “New catalysts, such as expanded institutional access to bitcoin, could push BTC to $140,000 or higher before year-end.”

The broader crypto market was also trending higher on Thursday. Ethereum’s ether (ETH) climbed more than 5%, topping $2,800, while XRP advanced 3.5% to reach $2.8180. Meanwhile, the CoinDesk 20 Index, which tracks a broad slice of the crypto market, rose 3.4%, hitting its strongest level since May.