Bitcoin achieved a historic milestone by surging past $118,000, setting a new all-time high amid a broader cryptocurrency market rally.
The flagship cryptocurrency peaked at $118,195 as its market dominance exceeded 62% of the total crypto market capitalization, which now stands at $3.75 trillion. Major altcoins followed Bitcoin’s upward trajectory, with Cardano (ADA) climbing 13%, Ethereum (ETH) rising 8.5%, and XRP increasing 7.1% within 24 hours.
Regulatory developments bolstered market confidence, particularly progress around the U.S. GENIUS and CLARITY Acts. These legislative initiatives aim to establish clear frameworks for stablecoins and digital asset markets, addressing long-standing regulatory uncertainties.
Prominent industry figures contributed to bullish sentiment, with Cardano founder Charles Hoskinson projecting Bitcoin could reach $250,000 by early 2026. This optimism is underpinned by technological advancements and evolving regulatory landscapes.
The market surge was further amplified by short liquidations and growing institutional interest, driving widespread positive momentum across digital asset sectors.