US EditionBitcoin hits record high just shy of $112,000
UNITED STATES, JUL 9 – Bitcoin's price surge to $112,000 was driven by Nvidia's stock rally and increased corporate bitcoin purchases that exceeded inflows into bitcoin exchange traded funds, analysts said.
- Bitcoin hit a fresh record above $112,000 on Wednesday afternoon, driven by an Nvidia-led equities rally and a risk-on market mood.
- This surge followed weeks of Bitcoin trading in a tight range and growing institutional interest as corporate purchases outpaced ETF inflows in Q2.
- The Nasdaq Composite also closed at a record high, Nvidia briefly reached $4 trillion market cap, and the Crypto Fear & Greed Index showed increased speculative 'Greed' sentiment.
- Just before 4 p.m. ET, Bitcoin climbed to a peak of $112,052.24, exceeding the previous high of $111,999 set on May 22, while trading volume increased by more than 38% within 24 hours, indicating heightened investor interest.
- The rally suggests continued correlation between Bitcoin and tech stocks, with expectations for corporate buying and crypto legislation to further influence price trends.
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