Bitcoin just smashed a new record. The world’s biggest cryptocurrency hit $116,626 on Thursday night before settling just below $116,000. That’s over 4% jump in a single day. And the timing? Just days before ‘Crypto Week’ kicks off in the US.
Bitcoin is on fire again. And it’s not alone.
Crypto Market Is Booming
Ethereum went up by 7%, XRP by 5.3%, Solana by 4.3%, and even Dogecoin surged 6.2%. In total, around $160 billion was added to the global crypto market in just 24 hours. The total value now sits at $3.69 trillion.
This is the biggest gain we’ve seen since May, when Bitcoin last hit a record of just under $113,000.
What’s Driving This Surge?
It’s not just random. A few big moves are powering this wave.
- Crypto Week starts on July 14 in the US. The House Committee on Financial Services will discuss crypto-friendly laws. One major bill is the GENIUS Act, which sets rules for stablecoins.
- Big investments are rolling in. GameStop bought $513 million worth of Bitcoin. And Trump Media plans to raise $2.5 billion to build a Bitcoin reserve.
- President Donald Trump is backing crypto hard. After his win, Bitcoin crossed $100,000 for the first time.
What Is The GENIUS Act?
The GENIUS Act is a new bill introduced in February. It aims to regulate stablecoins—a type of crypto tied to stable assets like the US dollar.
It passed the Senate with strong support. If made law, companies issuing stablecoins must hold real assets to back their coins. It also gives protection to investors if those companies go bust.
Stablecoins make up a $238 billion market. This bill could make them more trusted and safer for new investors.
Young investors in India are already jumping in. But strong policies are needed to protect them and grow the industry.
Bitcoin is more than a coin now. It’s a signal. Of where money is going, where policy is heading, and who is controlling the future of finance.
And right now, all signs point to Bitcoin’s next chapter being even bigger.
Also Read Trump’s 50% US Tariffs Hit Copper and Brazil Starting August; Will India Feel the Heat?
