Bitcoin Rockets Past $110,000: Crypto's Wild Ride Hits New Peak!

Hang onto your hats, folks! Bitcoin just blasted through the $110,000 mark on Wednesday evening, smashing its all-time high as the crypto world went into full-blown rally mode.

Remember that high during Trump's inauguration in January? Yeah, that got left in the dust by late morning, and the buying frenzy didn't stop even after the U.S. stock markets closed. Bitcoin, the king of crypto by market cap, just kept climbing.

In the last 24 hours alone, Bitcoin's up over 4.5%, and it's soared more than 23% in the past month. Talk about a comeback from April's slump!

U.S. Equities

This Bitcoin surge is echoing the wild ride of U.S. stocks, even with Wednesday's Wall Street sell-off. Since late April, the S&P 500's up 15%, and the Nasdaq? It's jumped over 21%. Analysts think it's because people are feeling more hopeful that Trump's trade policies won't be as brutal as they feared.

Remember those killer tariffs Trump rolled out in early April? A 10% blanket import tax and extra whacks on Chinese goods. But then, the White House backed off a bit.

Last week, Treasury Secretary Scott Bessent announced they're hitting pause on the worst of it for 90 days after talking with Chinese officials.

Right after those tariffs hit, Bitcoin tanked to a two-month low of $76,000. Everyone was freaking out about a global slowdown.

Even though Bitcoin's supposed to be a safe haven from traditional finance, it's still riding the same rollercoaster as risk-on stocks, especially tech.

What's Going on with Bitcoin?

Some of Bitcoin's fire seems to be coming from the crypto world itself. Enclave Markets CEO Phil Wirtjes thinks policy moves are giving it a boost, especially with lawmakers making progress on stablecoin rules.

There's a new draft bill floating around the Senate that would set clearer guidelines for USD-backed digital tokens. It's picking up steam.

Big investors are also jumping back in. Spot Bitcoin ETFs pulled in a whopping $329 million in the last 24 hours.

So, what's driving Bitcoin's latest surge? Is it the big-picture stuff or the crypto-specific news?

While clearer rules and ETF money are definitely helping, the way Bitcoin's moving with stocks shows that the hunger for risk is still calling the shots in both worlds.