Bitcoin’s latest bull market

Bitcoin’s bull-run continued on July 11, breaking through new highs, and igniting debate in financial markets.

The world’s largest cryptocurrency soared to $118,239 (€108,778), driven by institutional demand and pro-crypto signals from Donald Trump’s administration.

In the early hours of Friday morning, Bitcoin rallied past several key thresholds – $113,000 (€96,713), then $115,000 (€98,394), and finally reached a record $118,239 (€101,219).

According to Coinmarketcap data, the global cryptocurrency market surged 5.92 per cent, now valued at $3.67 trillion (€3.14 trillion).

Analysts attribute the recent rally to the large financial institutions that have purchased Bitcoin.

“Bitcoin’s new all-time high is being driven by relentless institutional accumulation – major players are scooping up supply and drying up liquidity on exchanges,” said Joshua Chu, co-chair of the Hong Kong Web3 Association, speaking to Reuters.

Trump embraces digital assets

What else could be a major reason for the Bitcoin bull-run? Trump’s recent shift in policy towards crypto.

Trump signed an Executive Order in March to create a US Strategic Reserve for Cryptocurrencies. He has also appointed crypto friendly figures in key roles including SEC chair Paul Atkins, and AI advisor David Sacks.

Even Trump’s business family is getting in on the action. An SEC filing this week revealed that Trump Media & Technology Group (DJT.O) plans to launch a crypto ETF covering multiple digital assets, including Bitcoin.

Many market observers see these moves as a significant turning point, in contrast to the cautious approach of previous administrations.

Ethereum is also riding the wave

Bitcoin’s surge wasn’t all that was happening in the crypto world. Ethereum, the second-largest cryptocurrency, also surged to a five-month high of $2,998.41 (€2,565.59), before settling at $2,993 (€2,561.92). The price is now up about 7 percent in the last 24 hours.

Bitcoin has risen by nearly 26 percent since 2025.

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