Bitcoin Smashes 2025 ATH for the Third Time—Regulatory Green Light & Treasury Frenzy Fuel Rally
Bitcoin just punched through another all-time high—its third this year—as regulators finally stopped dragging their feet and institutional money flooded in. Here’s why the bulls aren’t letting up.
Regulatory Clarity: The Fog Lifts
After years of bureaucratic hand-wringing, major economies have started treating crypto like an asset class instead of a crime scene. No more guessing games—just green lights and greedy treasuries.
Treasuries Go Full Degen
Corporate balance sheets are looking more like crypto hedge funds, with blue-chip firms and sovereign wealth funds quietly stacking sats. Who needs bonds when you’ve got digital scarcity and a side of volatility?
The Cynic’s Corner
Wall Street spent a decade dismissing Bitcoin—now they’re front-running retail with leveraged ETFs and ‘institutional-grade’ custody solutions. How very… predictable.
BTC/USDT daily chart
Bitcoin's record high comes on back of regulatory clarity and treasury acquisitions
Bitcoin's latest peak follows regulatory progress in the US around cryptocurrencies, with the House's crypto Week, set for the week of July 14, drawing closer.
Lawmakers will deliberate on the GENIUS stablecoin bill, the crypto market structure CLARITY bill and the Anti-CBDC Surveillance State bill next week. The bills aim to provide clear regulatory environments for the issuance and use of cryptocurrencies and stablecoins.
Meanwhile, US spot Bitcoin exchange-traded funds (ETFs) have also contributed to increased demand for the asset, as they're on track to record five consecutive weeks of net inflows totaling $5.69 billion, per SoSoValue data.
The growing trend of publicly listed companies pulling a page from Strategy's (formerly MicroStrategy) playbook to launch BTC treasuries has also been another source of buying pressure. The number of public companies with a BTC reserve increased to 143 in 2025, with combined holdings of 858,850 BTC, valued at approximately $95.3 billion at the time of publication, per data from bitcoin Treasuries.
As a result, the available supply of BTC on exchanges has been plunging. According to CryptoQuant's data, Bitcoin supply on exchanges has fallen to 2.4 million BTC, its lowest level since 2018. This implies that only about 12% of its circulating supply is readily available for trading.
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BTC Exchange Reserve. Source: CryptoQuant
The rise in Bitcoin follows a similar surge to new all-time highs in equities, with the S&P 500 and Nasdaq reaching new highs last week.
Despite President Trump's announcement of new tariff letters on international trading partners on Wednesday, risk assets have held up well, signaling a growing resilience to Trump-induced macroeconomic tensions.
Bitcoin is changing hands at $110,900, up 2% over the past 24 hours, at the time of publication.
