Bitcoin Reaches Historic High of $118,856 Amid Strong U.S. Demand
Bitcoin achieved a new all-time high of $118,856 this week, propelled by significant buying activity from U.S. investors. The cryptocurrency surpassed its previous record of $111,970 set on May 22, marking a 5.95% increase. Crypto analyst Burakkesmeci identified growing U.S. interest as the primary catalyst, evidenced by a 42-point expansion in Coinbase‘s premium indicator.
U.S. Market Activity Drives Bitcoin Rally
The Coinbase premium gap, which tracks price differences between Coinbase and Binance, reveals U.S. traders are consistently paying higher prices. This premium reached $87.76 at its peak last week, demonstrating substantial U.S. market participation. Such sustained demand suggests continued confidence in Bitcoin‘s value proposition.
Key Factors in Bitcoin’s Recent Growth
- Substantial U.S. investor participation
- 42-point widening of Coinbase’s premium indicator
- 20% appreciation since January 2025
Market Outlook and Future Potential
Current market dynamics indicate potential for further price appreciation if U.S. demand persists. Market analysts note that maintaining this level of institutional and retail interest could support ongoing positive momentum for Bitcoin.
