Bitcoin reached a new all-time high on July 9, 2025, trading at US$112,052.24 shortly before 4:00 p.m. ET, according to Coin Metrics.

This surpassed its previous record of US$111,999 set on May 22.

The cryptocurrency’s price later settled at US$110,947.49, representing a 1.9% increase for the day.

Bitcoin’s movement coincided with a rally in tech stocks, particularly Nvidia, as the Nasdaq Composite achieved a record close.

Despite recent tight trading ranges, Bitcoin has seen consistent inflows, including purchases by public companies and investments in Bitcoin exchange-traded funds (ETFs).

🔗 Source: CNBC

🧠 Food for thought

1️⃣ Bitcoin’s growing correlation with tech stocks reshapes its market behavior

Bitcoin’s new record coinciding with an Nvidia-led tech rally reflects a fundamental shift in how the cryptocurrency trades.

Since the COVID-19 pandemic, Bitcoin has developed an increasingly strong correlation with tech stocks, with the 90-day correlation between Bitcoin and the Nasdaq 100 reaching a record high of 60% in recent years 1.

This relationship was demonstrated in recent market movements when Bitcoin dropped 11% following Trump’s tariff announcement in April 2025, mirroring declines in major tech stocks 2.

JPMorgan analysts have found that Bitcoin shows its strongest correlation specifically with small-cap tech stocks in the Russell 2000, attributing this to Bitcoin’s connections to venture capital and technological innovation 3.

The correlation intensifies during periods of significant market movements, peaking during years of tech market outperformance like 2020 and 2024, as well as during downturns like 2022 3.

This pattern helps explain why Bitcoin remained in a tight trading range despite significant ETF inflows, as its price movements are increasingly influenced by broader tech market sentiment rather than crypto-specific factors alone.

2️⃣ Regulatory developments create a more stable foundation for institutional investment

Bitcoin’s latest surge comes amid a transformative shift in the regulatory landscape that has significantly impacted market confidence.