Bitcoin has surpassed $116,000, as seen on the Coinbase TradingView chart, setting a new record just a day after breaking its previous $112,000 high. The cryptocurrency has seen a 3.76% gain in 24 hours and a nearly 22% surge since the beginning of 2025, representing a 97% increase year-over-year.
This rally is fueled by updated Trump administration tariff policies, Elon Musk’s new pro-Bitcoin political party, and growing institutional adoption. MicroStrategy remains the largest corporate holder with a $64 billion Bitcoin treasury, despite pausing its recent accumulation.
Bitcoin‘s breakthrough past $100,000 in December 2024 was largely attributed to President Trump’s pro-crypto stance and the creation of a “crypto czar” role, alongside states like Texas establishing Bitcoin reserves.
Bitcoin now commands a $2.3 trillion market cap, maintaining its dominance as regulatory clarity improves and corporate enthusiasm grows, suggesting its record-breaking run may continue.
Bitcoin has surged in value, triggering over $575 million in short liquidations in 24 hours, according to CoinGlass. Its market cap now stands at $2.25 trillion, nearing that of retail giant Amazon.
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