Bitcoin Breaks Through to New High, Crossing $116,000

Bitcoin Breaks Past $116K, Setting New All-Time High Amid Renewed Bullish Momentum

Bitcoin (BTC) surged to a new all-time high on Thursday, climbing above $116,000 as investor confidence continues to strengthen. The cryptocurrency hit a peak of $115,469 during the U.S. trading session, up 4.3% over the past 24 hours, according to CoinDesk data.

This move marks a breakout from weeks of sideways trading, with BTC previously struggling to hold above $112,000. On Wednesday, it briefly surpassed that level before pulling back below $111,000. One year ago, bitcoin was trading around $57,700, meaning it has doubled in value despite volatility earlier in the year.

According to Gerry O’Shea, Head of Global Market Insights at Hashdex, the surge is being driven by robust inflows into spot bitcoin ETFs, growing adoption among corporations, and a generally improving regulatory outlook.

“While macroeconomic uncertainty persists, the bull run is gaining traction,” O’Shea said. “With more institutional access on the horizon, bitcoin could reach $140,000 or more this year.”

The broader crypto market mirrored bitcoin’s gains. Ethereum (ETH) rose more than 5%, trading above $2,800, while XRP advanced 3.5% to reach $2.8180. The CoinDesk 20 Index, which tracks a broad range of major tokens, climbed 3.4%, hitting its highest point since May.