Bitcoin smashes past $117,000 as investor confidence and U S policies boost crypto rally

Bitcoin has achieved a historic milestone, breaching the $117,000 mark for the first time ever. At 11:00 am, the world's most prominent cryptocurrency was trading at $117,863.18, a 6.13% rise over the past 24 hours, marking a significant surge driven by growing institutional interest and supportive policy signals from the U S government.

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A key driver behind the current rally is President Donald Trump’s pro-crypto stance. In March, he signed an executive order to establish a strategic cryptocurrency reserve for the United States, a move widely seen as legitimising the role of digital assets in the mainstream economy.

Bitcoin’s rise has contributed to a 24% gain for the year so far, and it has now overtaken both the Taiwanese dollar and the Australian dollar in terms of market capitalization.

The surge isn’t limited to Bitcoin. Ethereum rose 8.66% to reach $3,022.21. XRP climbed 7% to $2.59. Other major gainers include Cardano (12.58%), Sui (11.85%), Avalanche (8.53%), and Hedera (13.69%). Even meme coins such as Dogecoin and Shiba Inu joined the rally, registering gains of 9.66% and 8.87%, respectively.

Analysts believe that continued policy support and institutional adoption could sustain this momentum, possibly opening the gates for another bullish phase in global cryptocurrency markets.