Bitcoin soared to a new all-time high on July 11, 2025, surpassing $117,000, driven by bullish momentum in risk assets. This rally mirrors the rise of tech giants like NVIDIA (NVDA), which recently hit a $4 trillion valuation, highlighting Bitcoin’s ongoing correlation with tech.
As the Nasdaq Composite hit record levels and the S&P 500 followed closely behind, Bitcoin also benefitted from favorable policy signals and tightening supply. No wonder, Bitcoin-based exchange-traded fund iShares Bitcoin Trust ETF (IBIT) is up 15% this year. The fund gained 4.3% this past month.
Crypto analyst Nic Puckrin emphasized that Bitcoin normally tracks tech stock performance, and its recent performance reflected a pressure release more than a full-scale bull run, as quoted on Yahoo Finance. Over the past two months, Bitcoin maintained an unusually tight $10,000 range, setting the stage for this breakout.
This post originally appeared at Zacks.