Overview

• Bitcoin surged past $120,000 for the first time, boosting its year-to-date gains to 28% and pushing the combined cryptocurrency market cap near $4 trillion.
• U.S. spot bitcoin ETFs logged $1.18 billion in inflows on Thursday, marking the largest single-day haul of 2025 and highlighting growing institutional interest.
• Corporate and sovereign treasury allocations have continued to accumulate bitcoin, adding upward supply pressure and supporting prices.
• The U.S. House of Representatives has kicked off Crypto Week to debate the CLARITY Act, the Anti-CBDC Surveillance State Act and the GENIUS Act to establish stablecoin rules and clarify digital asset regulations.
• Investor sentiment remains buoyant as markets price in potential Federal Reserve rate cuts, underpinning demand for risk assets like bitcoin.