- Bitcoin reached a new record high, climbing to $116,046 on July 10 due to strong demand and supportive U.S. government policies.
- Major cryptocurrencies like Ethereum, Solana, Dogecoin, Cardano, XRP, and Litecoin posted notable gains alongside Bitcoin.
- The rally followed actions from President Donald Trump’s administration, including executive orders and pro-crypto appointments.
- Crypto-related stocks such as Mara Holdings, Riot Platforms, Coinbase, and Robinhood also increased in value.
- Bitcoin has stayed above the $100,000 mark for over 60 days, supported by significant investment into Bitcoin ETFs.
On July 10, Bitcoin set a new record by surging to $116,046, driven by high demand from institutional investors and a favorable policy environment under U.S. President Donald Trump’s administration. The cryptocurrency surpassed its previous daily high of $113,734 and has risen approximately 24% since the start of the year.
Other digital assets also experienced sharp gains. Ethereum climbed to $2,905, up 3%. Solana and Ether tokens added more than 2% each, while Dogecoin and Cardano rose over 5%. XRP and Litecoin advanced by 3%. This surge followed a second straight day of broader participation in the crypto rally, particularly among altcoins that had previously seen lower investor interest.
The recent price jumps coincide with supportive moves from the Trump administration. In March, President Trump signed an executive order to create a strategic reserve of cryptocurrencies. He has also appointed figures with positive views on digital assets, such as Securities and Exchange Commission member Paul Atkins and the White House Artificial Intelligence advisor David Sacks. Further, filings show that Trump Media & Technology Group is considering launching an exchange-traded fund (ETF) tied to various crypto tokens, including Bitcoin.
Companies connected to cryptocurrencies also posted gains. Bitcoin mining firms Mara Holdings and Riot Platforms each rose by more than 2%. Trading platforms Coinbase and Robinhood advanced by 4%.
Bitcoin has consistently traded above $100,000 for more than sixty consecutive days. This stability is bolstered by billions of dollars flowing into Bitcoin ETFs—investment funds that track the value of Bitcoin and are traded on stock exchanges, making them accessible to a wide range of investors.
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