Bitcoin soared to a fresh all-time high on Thursday, hitting $112,599, according to CoinGecko, after U.S. President Donald Trump renewed calls for the Federal Reserve to slash interest rates.
“Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS!” Trump posted on Truth Social. “FED SHOULD RAPIDLY LOWER RATE TO REFLECT THIS STRENGTH. USA SHOULD BE AT THE ‘TOP OF THE LIST.’ NO INFLATION!!!”
The leading cryptocurrency is now up 3.5% on the day, following Wednesday’s surge past $112,000—its first time breaching that mark and overtaking May’s previous record of around $111,900.
The rally comes after a rocky April, when Bitcoin and other assets dropped in response to Trump’s tariff announcements. However, markets have since rebounded sharply.
Trump has long criticized Fed Chair Jerome Powell for not easing rates, once calling him a “loser” and “stupid.” On Thursday, he reiterated that Powell’s firing “cannot come fast enough.”
Other cryptocurrencies followed suit: Ethereum rose nearly 5% to $2,783, while Solana climbed almost 2% to $157.
“We are likely headed even higher,” said Joe DiPasquale, CEO of BitBull Capital. “Bitcoin’s rally is being driven by a mix of strong ETF inflows, renewed institutional demand, and a broad risk-on environment.”
“Once BTC cleared key psychological levels around $110K, sidelined capital jumped in,” he added. “On-chain data and positioning suggest there’s still room to run, though the market remains vulnerable to sharp pullbacks if sentiment shifts.”
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