Friday, July 12, 2025 — Bitcoin soared to a new record high of $116,781.10 in Asian trading, driven by strong institutional interest and supportive cryptocurrency policies from the Trump administration. The world’s leading digital asset has now surged over 24% year-to-date and was last seen trading near $116,563.11.
According to Joshua Chu, co-chair of the Hong Kong Web3 Association, the price rally is a result of “relentless institutional accumulation,” with major investors buying up large quantities and reducing exchange liquidity.
A key catalyst behind the surge is U.S. President Donald Trump’s executive order in March, which called for the creation of a strategic cryptocurrency reserve. Trump has also bolstered his administration with prominent pro-crypto figures, including SEC Chair Paul Atkins and AI czar David Sacks, reinforcing a crypto-friendly regulatory outlook.
Additionally, Trump’s family business ventures are diving deeper into the crypto space. Trump Media & Technology Group recently filed to launch a crypto-focused ETF aimed at investing in multiple tokens, including Bitcoin.
Meanwhile, Ethereum (ETH) — the second-largest cryptocurrency — also rallied, gaining nearly 5% to reach $2,956.82, after briefly touching a five-month high of $2,998.41.
