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Bitcoin surged past $110,000 on Wednesday evening, setting a new all-time high as crypto rallied hard.<\/p>\n
The previous peak for Bitcoin (BTC), reached during President Donald Trump\u2019s inauguration in January, was surpassed in late morning trading, according to crypto.news data. The buying momentum sustained after U.S. equity markets closed with the largest cryptocurrency by market cap pushing above $110,000.<\/p>\n
Bitcoin has gained more than 4.5% in the past 24 hours and over 23% in the last month, reflecting a sharp reversal from April\u2019s downturn.<\/p>\n
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The rally mirrors the broader recovery in U.S. equities, despite Wednesday\u2019s sell-off on Wall Street. Since late April, the S&P 500 has climbed 15%, while the Nasdaq is up more than 21%. Analysts attribute the bounce<\/a> to growing optimism that President Trump\u2019s trade policies may be less aggressive than initially feared.<\/p>\n After introducing steep tariffs in early April\u2014including a blanket 10% import tax and additional penalties for Chinese goods\u2014the White House signaled a partial retreat<\/a>.<\/p>\n \u00a0A 90-day pause on the most severe measures was announced last week by Treasury Secretary Scott Bessent following negotiations with Chinese officials.<\/p>\n Bitcoin initially fell to a two-month low of $76,000 shortly after Trump unveiled the tariffs, reflecting market fears over a broader global slowdown.\u00a0<\/p>\n Despite Bitcoin\u2019s reputation as a hedge against traditional financial assets, it often trades in tandem with risk-on equities, especially<\/a> tech stocks.<\/p>\n <\/p>\n Some of Bitcoin\u2019s momentum appears driven by crypto-native catalysts. Enclave Markets CEO Phil Wirtjes said<\/a> the rally was \u201clikely aided by policy advancements,\u201d particularly bipartisan progress on stablecoin legislation.<\/p>\n A draft bill that would establish clearer rules for USD-backed digital tokens has gained traction in the Senate.<\/p>\nWhat\u2019s going on with Bitcoin?\u00a0<\/h2>\n