Bitcoin hits new all-time high above $113,000, up 96% year over year

Bitcoin, the world's most valuable cryptocurrency by market capitalization, smashed another all-time high just one day after breaking its record of $112,000. 

The latest milestone comes a day after bitcoin broke past $112,000 for the first time. Within the past day, bitcoin's price increased 3.76%, and the asset has generated $36.5 billion in trading volume. 

Bitcoin’s price has climbed nearly 22% since the start of 2025 and is up approximately 96% from the same time last year.

"Bitcoin’s institutionalization has accelerated since the launch of the ETFs 18 months ago," Hashdex Asset Management Head of Global Market Insights Gerry O'Shea told The Block in an email. "Its recent price trajectory — including surpassing the $113,000 mark today — reflects ongoing interest from both individuals and businesses." 

The rally has been fueled in large part by the Trump administration's updated tariff schedule, which lowers volatility concerns, and tech billionaire Elon Musk's unveiling of a new political party that would support Bitcoin, among other factors, The Block previously reported. 

Additionally, corporate demand has also played a key role. An increasing number of publicly traded firms have gobbled up bitcoin this year in crypto-focused treasury strategies. Michael Saylor's software firm Strategy led the endeavor and still maintains the largest corporate crypto treasury at over $64 billion — despite pausing its BTC buying spree for the first time in three months on July 7. Other firms followed suit, including  K Wave Media ,  KULR Technologies, and the Japanese energy and cryptocurrency services firm Remixpoint . 

Bitcoin first broke past $100,000 on December 4, 2024, largely due to the pro-crypto stance of United States President Donald Trump, who won the 2024 election. Trump had promised to make America a global leader in cryptocurrency, even implementing the first-ever " crypto czar " role in the White House to help oversee digital asset regulation. Some states have followed federal enthusiasm toward crypto, with New Hampshire , Arizona, and Texas creating strategic bitcoin reserves. 

Bitcoin maintains a market cap of $2.3 trillion, the highest among all cryptocurrencies. Ethereum comes second at a $339.6 billion market cap. 

(Update: July 10, 19:39 UTC: Includes comment from Gerry O'Shea.)