Bitcoin has smashed past its previous records, hitting a new all-time high of S$145,404 (US$113,603) on 11 July 2025 (Singapore time), igniting renewed excitement among cryptocurrency investors.
This milestone comes after a strong 44% rally over the past three months, rebounding from a recent low of S$100,675 in April. That dip was partly triggered by a wave of international tariffs imposed by U.S. President Donald Trump, which had initially sent risk assets tumbling.
Despite geopolitical headwinds, Bitcoin’s resilience has stunned analysts and investors alike. In just the last five days, the price has climbed another 4.5%, reinforcing the bullish trend.
Market Momentum & Institutional Demand Fuel the Climb
Analysts point to a combination of spot demand and institutional accumulation as the primary forces behind the current rally. With many institutional investors now viewing Bitcoin as a long-term store of value, large-scale buying has continued to put upward pressure on the price.
Adding to the momentum is what’s known as a “short squeeze”, where traders who bet against Bitcoin are forced to buy back in at higher prices to limit their losses. This chain reaction further fuels buying activity and rapidly pushes prices higher.
The broader cryptocurrency market cap has grown by 3.4% in just 24 hours, now valued at a staggering US$3.57 trillion (S$4.57 trillion).
Could Bitcoin Reach S$170,000 Next?
With the bulls back in control, many market watchers are predicting Bitcoin could reach US$133,000 (S$170,000) by as early as September. This would mark yet another historic leg up for the world’s most well-known digital asset.
While sceptics continue to warn of volatility and regulatory risks, enthusiasts believe this surge marks a new phase of mainstream acceptance for Bitcoin. Increased institutional involvement, including spot Bitcoin ETFs, has added credibility and reduced concerns of past speculative bubbles.
Whether this marks the beginning of a longer-term bull run or another temporary spike remains to be seen — but for now, the crypto community is firmly in celebration mode.