Bitcoin hits record US$112,000 amid Wall Street rally, crypto surge

Traders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, one analyst says

Reading Time:2 minutes

Bitcoin has hit a record high. Photo: Getty Images/TNS

Published: 12:45pm, 10 Jul 2025

Bitcoin surged past US$112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small.

The original cryptocurrency rose as much as 3.1 per cent to US$112,009, pushing its gain this year close to 20 per cent.

The move underscores the speculative momentum gripping markets even as US President Donald Trump unleashes a fresh barrage of tariff announcements.

The crypto rally is far from isolated: Nvidia’s brush with a US$4 trillion valuation in Wednesday trading helped push the S&P 500 within a whisker of its record, with fast-money investors joining the stock market fray.

“Voracious demand from equity market vehicles such as ETFs [exchange-traded funds] and digital-asset Treasuries has underpinned a continuous bid for bitcoin,” said Spencer Hallarn, global head of OTC trading at crypto investment firm GSR.

The rally is a boon for a new generation of Wall Street deal makers and corporate executives – led by crypto treasury companies – that are banking on the token’s advance to unlock new rounds of financing.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x

Bitcoin hits record US$112,000 amid Wall Street rally, crypto surge

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Traders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, one analyst says

Traders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, one analyst says