Bitcoin Tops $111,000. Why President Trump's Bill Is Moving Crypto.
Bitcoin (CRYPTO: BTC) set a new all-time high today, topping $111,000 for the first time ever. After reaching a previous all-time high in December 2024, Bitcoin declined roughly 30%, leading many to believe the bull run that saw it nearly double from September through December was over. However, in the last month, Bitcoin is up nearly 50%.As is common, many altcoins have followed suit, with Ethereum (CRYPTO: ETH) up more than 68% in a month and Dogecoin (CRYPTO: DOGE) up nearly 50% since April.This growth has been largely fueled by easing trade tensions with China, and more recently, a downgrade of U.S. debt and the advancement of the crypto-friendly GENIUS Act. Today's move is directly related to the U.S. House of Representatives vote to advance President Trump's tax bill and "driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers," as James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC.Continue reading
Bitcoin (CRYPTO: BTC) set a new all-time high today, topping $111,000 for the first time ever. After reaching a previous all-time high in December 2024, Bitcoin declined roughly 30%, leading many to believe the bull run that saw it nearly double from September through December was over. However, in the last month, Bitcoin is up nearly 50%.
As is common, many altcoins have followed suit, with Ethereum (CRYPTO: ETH) up more than 68% in a month and Dogecoin (CRYPTO: DOGE) up nearly 50% since April.
This growth has been largely fueled by easing trade tensions with China, and more recently, a downgrade of U.S. debt and the advancement of the crypto-friendly GENIUS Act. Today's move is directly related to the U.S. House of Representatives vote to advance President Trump's tax bill and "driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers," as James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC.
