Crypto rallies alongside tech giants as favorable policy and regulation fuel investor confidence
Bitcoin (BTC-USD) surged to a fresh all-time high on Friday, breaking above $118,000 amid a wave of bullish momentum sweeping across risk assets. The move marks a new milestone for the world’s largest cryptocurrency and underscores its growing correlation with the broader tech sector.
The rally comes as Nvidia (NVDA) hit a $4 trillion valuation, with the Nasdaq Composite and S&P 500 also reaching new highs this week. “Historically, Bitcoin has remained highly correlated with tech stocks, and this correlation is still playing out,” wrote Nic Puckrin, founder of the Coin Bureau.
Year to date, Bitcoin is up roughly 21%, supported in part by pro-crypto policies under the Trump administration, including the creation of a strategic Bitcoin reserve. Recent price stability — with the token trading within a $10,000 range over the past two months — has provided a strong base for this latest breakout.
Institutional and corporate interest has been key. Dilin Wu of Pepperstone noted “sustained structural inflows” and highlighted increased participation from firms like Strategy (MSTR), GameStop (GME), and Trump Media & Technology Group (DJT), which recently filed to launch a “Crypto Blue Chip ETF” with 70% Bitcoin exposure.
Adding to the momentum is next week’s “Crypto Week” on Capitol Hill, where lawmakers are set to debate major legislation, including the GENIUS Act, which proposes a federal framework for stablecoins. A favorable outcome could accelerate institutional adoption and reinforce Bitcoin’s status as a macro asset, said Kaiko AI CEO Jesse Jarvis.
Crypto-linked stocks rallied in tandem, with Circle (CRCL) gaining 2% and up over 500% since its June IPO. Trading platforms Robinhood (HOOD) and Coinbase (COIN) also saw gains, reflecting the market’s optimism for further crypto integration.
You might like this article:Alibaba’s $100 Billion Wipeout Highlights Mounting Pressure in China’s Food-Delivery War
