Bitcoin has achieved a significant milestone, surging to a new all-time high of $116,046.44. This remarkable rally is largely attributed to robust institutional demand and the supportive cryptocurrency policies enacted under US President Donald Trump's administration. The world's largest cryptocurrency surpassed its previous record of $113,734.64 earlier in the day before continuing its ascent.

This impressive performance means Bitcoin is now up approximately 24% in 2025, according to Reuters. A substantial portion of this upward momentum originates from recent shifts in policy under the Trump administration. In March, President Trump signed an executive order establishing a strategic reserve of cryptocurrencies, signaling a clear governmental backing for the digital asset space. Furthermore, his administration has appointed several figures known for their pro-crypto stances to influential positions, fostering a more favorable regulatory environment.

The positive sentiment surrounding Bitcoin's surge and the supportive policy landscape has also extended its benefits to other cryptocurrencies. Ethereum, for instance, saw a 3.01% increase, reaching $2,905.24. Altcoins, after a somewhat sluggish start to the year, demonstrated strong upward momentum for a second consecutive day. This included notable gains for Ether and Solana (SOL), both rising over 2%, while Dogecoin and Cardano experienced more significant increases of over 5%. XRP and Litecoin also contributed to the broad market rally, each seeing a 3% increase, reflecting a widespread positive impact across the cryptocurrency market.