Bitcoin has officially reached a new all-time high, surpassing $118,000. The move comes amid sustained demand from institutional investors, continued ETF inflows, and broader shifts in how the asset is perceived. What was once widely dismissed as speculative and risky is now increasingly being treated as a strategic asset, both by investors and policymakers.

Bitcoin is now in new ´´price discovery´´ territory, as charted by WSJ, Data from CoinDesk - 11.7.25

One of the key factors behind this rally is the growing presence of long-term buyers. As noted by analysts, institutional investors are not only driving volumes but also removing supply from exchanges. Liquidity is thinning, but demand has not. The recent political climate has also contributed. Former President Trump’s renewed support for crypto, including the creation of a strategic Bitcoin reserve, has changed the tone of the conversation in Washington.

Standard Chartered’s Bitcoin report that was published last week predicts that we could see Bitcoin continue to rise up to $135,000 by the end of Q3 of 2025.

Sentiment has clearly shifted. Just two years ago, headlines focused on negative news such as regulatory threats. Now, Bitcoin is being discussed alongside gold. But this doesn’t mean that the volatility is completely gone. While geopolitical developments and market uncertainties continue to influence short-term price action, Bitcoin has consistently prevailed over the long term, this supported by structural adoption and growing institutional conviction. These actions continue to create short-term overhangs, but they haven’t slowed long-term momentum.

Here we see a chart made by Bitwise, comparing Bitcoin with Gold and Fiat currencies. Further details from Bitwise here

For many, this all-time high is not just about price. It marks a turning point in how Bitcoin is being integrated into the global financial system, slowly but with growing confidence. The question now is not whether institutions will adopt Bitcoin, but how much exposure they’re willing to take.

Bitcoin once again surpassed Amazon to become the 5th largest asset by Market Cap as of 11.7.25, Data from Companies Market Cap

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