Bitcoin (BTC-USD, Financial) climbed as much as 2.5% to $109,400 Wednesday amid optimism over favorable U.S. regulatory developments, before settling around its prior peak of $109,100 at mid-morning ET.
That lift sent Ether (ETH-USD, Financial) and Dogecoin (DOGE-USD, Financial) higher in sympathy, underscoring renewed demand across the crypto complex. So far in 2025, Bitcoin is up roughly 15%, vastly outperforming the S&P 500's 1% gain, and it's 55% above year-ago levels—highlighting its resilience amid choppy equities markets and rising Treasury yields.
Analysts point to a series of SEC and CFTC signals that a more defined framework for spot-Bitcoin ETFs could arrive soon, driving institutional flows into the world's largest digital token. Mining peers like Marathon Digital (MARA, Financial) and Riot Platforms (RIOT, Financial) also rallied, reflecting expectations that fresh fund inflows will boost network fees and hash-rate economics.
Meanwhile, traditional investors are taking notice: yesterday's modest equity sell-off and bond sell-off over fiscal-debt concerns did little to dent crypto appetite, suggesting Bitcoin's narrative is decoupling from broader markets.
This matters because Bitcoin hitting new all-time highs under regulatory clarity could pave the way for broader adoption and further inflows, potentially marking a structural shift in how investors view crypto.
