Bitcoin (BTC) has once again captured the spotlight after breaking through the $70,000 resistance level on Wednesday, marking a major milestone in its 2025 price rally. The world’s largest cryptocurrency surged by over 5% in 24 hours, fueled by a combination of institutional investment, rising ETF inflows, and growing optimism over upcoming macroeconomic data.
This latest price move comes amid a broader bullish trend in the digital asset space, as the total crypto market capitalization now exceeds $2.8 trillion for the first time since late 2021. Analysts point to increased activity in spot Bitcoin exchange-traded funds (ETFs), particularly in the U.S., where recent filings suggest continued institutional demand.
Experts are also keeping an eye on the Federal Reserve’s next interest rate decision. Should the Fed signal a pause or pivot in its monetary tightening cycle, risk assets like Bitcoin could gain even more momentum. At the same time, the upcoming Bitcoin halving event—expected in just a few weeks—is adding to the speculative frenzy, historically leading to supply shocks and price increases.
On-chain data also reveals a significant uptick in the number of Bitcoin wallets holding more than 1 BTC, indicating growing long-term holder confidence. Meanwhile, altcoins such as Ethereum (ETH) and Solana (SOL) are also enjoying double-digit gains, following Bitcoin’s upward trajectory.
As the market watches closely, many are wondering if Bitcoin is now on a path toward a new all-time high—possibly even surpassing its previous record of $69,000 set in 2021.