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Bitcoin hits record high of $116,046; surges 24% this year; Ethereum rose 3%

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Bitcoin soared to a fresh all-time high of $116,046.44 on Thursday, driven by strong institutional demand and supportive crypto policies under US President Donald Trump’s administration.Earlier in the day, it had already broken its previous record of $113,734.64 before climbing further by 9:27 pm GMT. With this rally, the world’s largest cryptocurrency is now up around 24% in 2025, Reuters reported.Much of the momentum stems from recent policy shifts under the Trump administration. Earlier in March, the president signed an executive order to create a strategic reserve of cryptocurrencies. He has also appointed several pro-crypto figures to key positions.Other cryptocurrencies also benefited from the positive sentiment. Ethereum rose 3.01% to $2,905.24 as of 9:30 pm GMT.Altcoins, which had seen waning investor interest this year, joined the rally for a second consecutive day. Ether and Solana (SOL) tokens each gained over 2%, while Dogecoin and Cardano’s token advanced more than 5%. XRP and Litecoin also rose by 3%.

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