Bitcoin hits new record high: Crypto coin soars in value to over $180,000 fuelled by ETFs
The price of the largest cryptocurrency by market capitalisation briefly topped $US121,249.90, according to data from Coin Metrics.
The rally has seen bitcoin reach new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their biggest day of inflows in 2025 at $US1.18 billion.
'We believe that Bitcoin's surge is driven by longer-term institutional buyers and this will propel it to $1US25k in the next month or two,' Jeff Mei, chief operating officer at cryptocurrency exchange BTSE, said in a statement sent to CNBC.
'Trump's trade disputes with the likes of the EU, Mexico, and other trading partners could cause dips in the week ahead, but it's likely that Bitcoin's institutional buyers are discounting this risk and maintaining their positions that Bitcoin will still appreciate in the long run,' he added.
Investors have been anticipating bitcoin to hit new records this year as corporate treasuries accelerate their bitcoin buying sprees and US Congress nears the passing of new crypto legislation.
The US House of Representatives will begin deliberating on a series of crypto bills on Monday aimed at providing a clearer regulatory framework for the digital asset industry.
The policy had been long sought by the industry, and is supported by US President Donald Trump, who has branded himself as a pro-crypto President and is involved in several crypto ventures.
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