Bitcoin (BTC) hit a new all-time high at $112,702.74 on Thursday, July 10, 2025, its first such record since May. The largest cryptocurrency in the world is now up about 20% this year, have fallen below $100,000 in late June.
In May, Bitcoin reached a high of $111,891. Currently, Bitcoin is at $112,661, which is a 2.94% appreciation over the last 24 hours. The price hike has taken its market capitalization to $2.24 trillion, while its 24-hour trading volume increased by 42% to $63.91 billion.
It was reported by Coinglass that nearly $340 million in Bitcoin short positions were closed on exchanges in four hours following the new high. This indicates that most traders who shorted BTC got surprised by the sudden price surge.
Amid the BTC price rally, Coinbase Global (COIN) and Strategy (MSTR) stocks also gained nearly 5% in the day’s trading session. The overall stock market also did well, with the Nasdaq Composite finishing at its own high mark.
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