Bitcoin Soars Past $117K as U.S. Policy Shift Spurs Investor Confidence

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Bitcoin recently soared past $117,000, marking a historic milestone for the world’s leading cryptocurrency. This rally is largely driven by recent policy developments in the United States and growing confidence among investors, signaling a turning point for digital assets in the broader financial market.

The recent surge in Bitcoin’s value, up more than 6% in just 24 hours, follows a decisive move by U.S. President Donald Trump, who issued an executive order to create a national cryptocurrency reserve. This initiative represents a significant step toward legitimizing digital currencies as mainstream investment vehicles and reflects increasing institutional interest. According to Ashish Singhal, Co-founder of CoinSwitch, this rally “is not just about price; it reflects how crypto is maturing into a recognized asset class within the global financial system.”

Bitcoin’s gains have been impressive this year, with a year-to-date increase of roughly 24%. This upward momentum has also benefited the broader cryptocurrency market. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, jumped 8.66% to $3,022. Other digital assets, including XRP and popular meme coins like Dogecoin and Shiba Inu, have posted significant double-digit gains as well.

Research from CoinDCX, a prominent cryptocurrency exchange, reveals that the overall crypto market capitalization recently increased by more than $165 billion. Additionally, approximately $415 million worth of short positions have been liquidated, indicating strong bullish sentiment. Bitcoin’s market capitalization now exceeds that of the Australian and Taiwanese dollars, emphasizing its growing economic relevance. Long-term Bitcoin holders currently control over 74% of the total supply, a record high in the past 15 years.

The combination of sound policy and expanding institutional demand has led analysts to forecast sustained growth in the crypto sector. With government leadership finally acknowledging the strategic importance of digital assets, Bitcoin and the broader market may continue to benefit from increased adoption and stability.

While skepticism toward government intervention remains warranted, especially given recent immigration and labor policies that have complicated economic recovery, the momentum behind Bitcoin underscores the growing disconnect between traditional government policies and emerging financial technologies. As the crypto market reshapes itself, investors are increasingly looking beyond conventional frameworks to embrace innovation and opportunity.