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Surprise Institutional Demand Pushes Bitcoin to $118,000 and Adds $200 Billion to Crypto Market Cap

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Surprise Institutional Demand Pushes Bitcoin to $118,000 and Adds $200 Billion to Crypto Market Cap


The cryptocurrency market experienced a sharp surge over the past 24 hours, driven by unexpected demand from major institutional investors. According to data compiled by Independent Arabia, the total market capitalization of digital assets jumped by 5.7%, gaining nearly $200 billion. The market cap rose from $3.032 trillion on Thursday to approximately $3.678 trillion by Friday morning.

This sharp increase came as Bitcoin broke a new all-time high, reaching $118,000 during Friday morning trading, fueled by strong institutional inflows. In a recent research note, Joshua Chu, Co-Chair of the Web3 Association in Hong Kong, stated, “The new peak in Bitcoin is driven by relentless accumulation from institutional players entering the market in force.”

Momentum was further boosted by former U.S. President Donald Trump’s executive order in March to establish a strategic reserve of cryptocurrencies. Trump also appointed several crypto-supportive figures to key positions, including Paul Atkins as Chairman of the Securities and Exchange Commission.

Strong Gains in Just 10 Sessions
Bitcoin Leads, Ethereum Posts Best Weekly Performance
Other Top Performing Cryptos:

Since the beginning of July, the crypto market has added roughly $646 billion in value over just 10 trading sessions, marking a 21.3% increase and signaling renewed investor confidence.

  • Bitcoin (BTC): Up 6% over the past 24 hours and 8.5% for the week, trading at $118,098. Its market cap reached $2.347 trillion, accounting for 63.82% of the total crypto market.

  • Ethereum (ETH): Ranked second, rose 7.6% daily and 17.8% weekly, trading around $3,000 with a market cap of $362.24 billion (9.84%).

  • Tether (USDT): Held third place with a stable price of $1, market cap at $159.14 billion (4.32%).

  • Ripple (XRP): Fourth, up 5.4% in 24 hours and 16.3% weekly, trading at $2.58, with a market cap of $152.68 billion (4.15%).

  • Binance Coin (BNB): Fifth, gained 2.3% daily and 4.6% weekly, now trading at $688, with a market cap of $95.83 billion (2.60%).

  • Solana (SOL): Sixth place, up 3% daily and 9.2% weekly, priced at $163.75, market cap $87.78 billion (2.38%).

  • USD Coin (USDC): Seventh, price stable at $1, market cap $62.84 billion (1.70%).

  • Dogecoin (DOGE): Eighth, gained 8.2% in 24 hours and 18.3% weekly, trading at $0.197, with a market cap of $29.60 billion (0.80%).

  • Tron (TRX): Ninth, up 1.7% daily and 3.6% weekly, trading at $0.295, market cap $28.02 billion (0.76%).

  • Cardano (ADA): Tenth, one of the top gainers, rising 12.8% daily and 22.6% weekly, trading at $0.711, with a market cap of $25.19 billion (0.68%).

Summary:

A surprise wave of institutional demand has reignited strong momentum in the cryptocurrency market, sending Bitcoin to record highs and injecting hundreds of billions into the digital asset ecosystem. With increasing regulatory support and political backing in the U.S., the crypto industry appears to be entering a new era of legitimacy and institutional adoption.


 

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