Bitcoin price advanced on Wednesday and hit a fresh record high just above $109,000; reflecting strong demand.
According to CoinDesk data, the price scaled past the previous record high at $109,224 scaled on the day of Trump’s inauguration in January.
It later petered out to $106,500 but remained over 4% higher today and nearly 14% higher so far in 2025.
As for ethereum, the second most valuable cryptocurrency, it rose 2.2% to $2530, while Ripple climbed 1.2% to $2.36.
Recent supportive regulatory measures by the Trump administration boosted prices, with the Senate proposing the Stablecoins bill to regulate cryptocurrencies linked to the dollar.
Even though the bill only focuses on Stablecoins, it gave a big boost to the entire crypto market.
Separately, Texas lawmakers approved a law establishing a crypto strategic reserve for the state, including bitcoin and other digital currencies.
Pepperstone’s analyst Chris Weston said the crypto market and bitcoin in particular looks to be heading very clearly upwards towarss fresh record highs.
On trading, bitcoin rose 4.3% as of 16:22 GMT on CoinMarketCap to $109,166
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