Bitcoin’s Price Nears Record High At $110K, Fueled By ETF Inflows And Trump Fed Talk

Bitcoin’s (BTC) price crossed $110,000 during U.S. pre-market hours on Thursday, reaching its highest level since last month, and just shy of its record high, leading to a surge in crypto-linked stocks as well. 

At the time of writing, Bitcoin’s price had pared some of its gains, trading at around $109,800, a 1.9% gain in the last 24 hours. The apex cryptocurrency is currently just 1.8% shy of its all-time high price of nearly $112,000, seen in May.

ETF inflows boosted the lifetime tally to $52.42 billion, after more than $407.78 million flowed into U.S.-listed Bitcoin spot ETFs on Wednesday, according to data from SoSoValue.

Bitcoin’s upswing brought cheer to the broader market, lifting major tokens like Ethereum (ETH) by 5.7%, while Ripple’s native token XRP (XRP) climbed 4.8%, Solana (SOL) gained 3.6%, and Cardano (ADA) surged 7.8%. 

Some analysts predict that Bitcoin’s price could rise to $116,000 by the end of the month. “Bitcoin is testing the top of its consolidation range, just as the perfect storm of macro catalysts begins to build,” Markus Theilen, the head of research at 10x, told Cointelegraph.

According to him, the political pressure on the U.S. Federal Reserve from President Donald Trump, who has repeatedly criticized the actions of Fed Chair Jerome Powell, could have been one of the reasons for the jump in inflows.

As per Farside data, Bitcoin ETFs have recorded $9.91 billion in inflows since May 1 this year. This accounts for approximately 20% of the total inflows since the funds were launched in 2024.

Theilen opined that if President Trump were to appoint a new Fed Chair who might advocate for a more accommodative monetary policy, it could potentially benefit Bitcoin.

Bitcoin’s gains also fared well for crypto-linked stocks on the equities side. Shares of Michael Saylor-backed Strategy (MSTR) climbed by nearly 8% in pre-market trade on Thursday. Bitcoin miners, on the other hand, saw double-digit gains. Hut 8 (HUT) was up 14%, while Marathon Digital (MARA) and Cleanspark (CLSK) were up 13% and 12%, respectively.

Traders are looking forward to the jobless claims data, due for release later on Thursday.

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