Bitcoin rose on Thursday, hovering just below its all-time high as traders balanced bullish institutional momentum with fresh caution around U.S. tariff risks.
As of 01:48 ET (05:48 GMT), Bitcoin (BTC) climbed 2.1% to $110,961.70, after briefly hitting a new record of $111,988.20 on Wednesday before a modest pullback on profit-taking.
Bitcoin’s historic surge comes amid aggressive accumulation by institutional players. Firms like MicroStrategy (NASDAQ:MSTR) continue to bolster their treasury allocations, while newcomers such as GameStop (NYSE:GME) have confirmed Bitcoin purchases backed by board approval.
In a notable development, Trump Media (NASDAQ:DJT) filed with the SEC this week to launch a Crypto Blue Chip ETF, the third ETF filing from the company in June alone—signaling a clear institutional push into crypto assets.
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Bitcoin's rally has been supported by:
Steady ETF inflows from institutional buyers
Broader corporate treasury adoption
Anticipation of clearer U.S. crypto regulations
These trends are positioning Bitcoin not just as a speculative asset, but increasingly as a mainstream institutional-grade investment.
Despite Wednesday’s breakout, Trump’s aggressive trade policy continues to weigh on markets. The August 1 tariff deadline has sparked broader risk aversion, limiting upside in crypto and equity markets alike.
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Investors are now looking ahead to “Crypto Week”, starting July 14, where U.S. lawmakers are expected to debate three major bills that could reshape the regulatory framework for digital assets.
Bitcoin is riding strong structural momentum from institutional players and policy shifts. But until tariff risks and regulatory uncertainty clear up, further breakouts may face resistance.
