Bitcoin surges past $111,000, up from $74,508 a month ago amid renewed optimism

On April 7, Bitcoin was at $74,508. A month later, the world’s most popular cryptocurrency is now trading above $111,000.

The cryptocurrency surged to a fresh all-time high on Thursday, climbing as much as $111,886.41 before settling slightly lower at $111,529.78, according to Coin Metrics. That’s a 3% jump on the day—and a staggering run for an asset that many assumed was cooling off. Bitcoin is trading at $111,158.70 at the time of writing.

Bitcoin’s $111K Breakout: A $37K Jump in 5 Weeks and No Signs of Slowing

Unlike past breakouts that happened in a flash, this rally has been more measured. Momentum has been building steadily over the past few weeks, powered by growing institutional interest and a surge in corporate adoption. Two big macro tailwinds are helping: easing trade tensions between the U.S. and China, and the U.S. credit downgrade from Moody’s, which has made investors more interested in alternative stores of value like Bitcoin.

“Bitcoin’s move has been driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers,” said James Butterfill, head of research at CoinShares, in a note to CNBC.

Interestingly, this push higher is happening even as U.S. stock markets stumble. A spike in Treasury yields dragged equities lower on Wednesday and into Thursday morning, but Bitcoin kept climbing. That decoupling from the Nasdaq and broader equity markets is catching attention. Some investors are clearly rotating into crypto as a hedge.

So far in 2025, Bitcoin is up more than 18%. ETFs linked to the asset have been pulling in money consistently, with only two days of outflows recorded in May, per SoSoValue. At the same time, public companies are holding more bitcoin than ever—roughly $349 billion worth, which now represents about 15% of all coins in circulation, according to Bitcoin Treasuries.

There’s also a political tailwind at play. Former President Donald Trump, along with crypto advocate David Sacks, is pushing a more favorable stance toward digital assets. The Senate just advanced its first crypto bill, aimed at creating stablecoin regulation. Trump wants a full crypto package ready for his signature by August, before Congress leaves town.

In another major win for the industry, Coinbase officially joined the S&P 500 this week. And in a surprising twist, JPMorgan CEO Jamie Dimon—long one of Bitcoin’s harshest critics—said the bank will begin allowing clients to buy the cryptocurrency.

Bitcoin has seen plenty of hype before, but this time, the energy feels different. More structured. More sustained. And maybe, finally, more accepted.