Bitcoin Explodes Past All-Time High as Congress Preps for Crypto Week
Bitcoin Breaks $113K Barrier Amid Tech Market Euphoria
Bitcoin (BTC) surged to a new all-time high, smashing past $113,000 on Thursday morning and continuing its explosive rally. The move comes as investors rush into risk assets, following record-breaking gains in the tech sector.
At the time of writing, Bitcoin has climbed over 5.6% in the last 24 hours to reach $117,276.69, according to CoinMarketCap.
This bullish momentum aligns closely with the rise of Nvidia (NVDA), which just hit a staggering $4 trillion market valuation—further strengthening the link between Bitcoin and the booming tech world.
Why Is Bitcoin Moving With Tech Stocks
Bitcoin’s price action isn’t happening in isolation. It’s closely tied to the performance of tech stocks. The Nasdaq Composite just hit a new record on Wednesday, and the S&P 500 isn’t far behind.
“Historically, Bitcoin has remained highly correlated with tech stocks, and this correlation is still playing out,” said Nic Puckrin, founder of Coin Bureau.
Investors are betting big on AI, blockchain, and digital assets, fueling the recent rally. The excitement around Nvidia and other tech giants is creating a ripple effect across the entire risk-asset spectrum—including crypto.
Bitcoin Up 21% in 2025 – What’s Fueling the Rally
So far in 2025, Bitcoin is up around 21%. While some of the momentum comes from market sentiment and tech gains, there’s also a political factor at play: the return of Donald Trump to the White House.
Trump’s administration has:
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Launched a strategic Bitcoin reserve
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Backed the creation of a broader federal digital asset stockpile
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Pushed for more crypto-friendly regulations
These moves have reassured institutions that crypto has a future in the U.S. financial system.
Unusual Stability Before the Breakout
Over the past two months, Bitcoin had been trading within a tight $10,000 range, a rare period of low volatility for the digital currency.
“If BTC makes a convincing break through the ATH level, then further profit taking can be expected around the $115,000 mark,” Puckrin said.
He added that this rally doesn’t appear to be the final blow-off top that many bulls have been expecting. Instead, it could be a relief move—a breakout following weeks of pent-up pressure.
Crypto Week Starts July 14: Major Regulations Incoming
Another big driver of crypto’s current surge is the upcoming Crypto Week, starting July 14 in the U.S. Congress.
Lawmakers are expected to review a series of bills that could define how crypto is regulated at the federal level. This includes stablecoins, exchange operations, and institutional access.
One of the most anticipated bills is the GENIUS Act, which proposes a national framework for stablecoins like USDC. The bill has already passed the Senate and is now under review in the House.
“A favorable outcome could accelerate institutional inflows and reinforce Bitcoin’s role as a macro asset,” said Jesse Jarvis, CEO of Kaiko, a crypto market data firm.
Market Reaction: Circle, Robinhood, and Coinbase Rally
The regulatory optimism has spilled over into crypto-related stocks as well:
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Circle (CRCL) – the company behind USDC – saw its shares jump 2% on Thursday. Its stock is now up 500% since its June 5 IPO.
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Robinhood (HOOD) and Coinbase (COIN) also traded higher, buoyed by the positive sentiment.
These platforms are seen as key gateways for retail and institutional investors alike, and any favorable regulation could unlock massive growth potential.
Is $120,000 or Even $140,000 Next for Bitcoin
Many analysts believe this breakout could be just the beginning. With tech stocks surging, favorable crypto laws on the horizon, and Trump’s administration backing Bitcoin, the macro setup is highly supportive.
Key reasons for further upside:
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Institutional demand is building, especially as more platforms offer Bitcoin access.
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Retail investors are returning to crypto apps amid growing FOMO.
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Regulatory clarity could unlock a new wave of institutional money.
Some experts predict Bitcoin could reach $120,000 within weeks, and possibly $140,000 by the end of 2025, if these trends hold.
What to Watch Next
| Event | Date | Why It Matters |
|---|---|---|
| Crypto Week Begins | July 14, 2025 | Could reshape U.S. crypto policy |
| GENIUS Act Vote | Mid-July | Federal stablecoin framework |
| Q2 Earnings Season | Mid-July | May affect tech-stock and BTC correlation |
| Federal Reserve Meet | August 2025 | Interest rate outlook could impact risk assets |
Bitcoin’s Rally Has Strong Legs
Bitcoin’s surge past $113,000 is a milestone moment, driven by a mix of tech euphoria, pro-crypto political backing, and regulatory hope.
While some say a short-term pullback is possible, the bigger picture looks bullish.
If Congress supports crypto in Crypto Week and the GENIUS Act passes, we may be looking at a new era for Bitcoin—one where $140,000 becomes the next target.
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