Bitcoin Surges 4% to New All-Time High of $113,635

Bitcoin reached a new all-time high on Thursday, surpassing the $113,000 mark. At the time of writing, Bitcoin was trading at $113,635, marking a more than 4% increase from the previous day. The total market cap of the top cryptocurrency was at $2.25 trillion, also increasing by more than 3%. Bitcoin had been in a consolidation range between $105,000 and $110,000 for several weeks before breaking out and surpassing the $110,000 resistance level with relative ease. The cryptocurrency reached a new all-time high of $112,000 amid rising demand from U.S. investors. Although BTC pulled back slightly earlier in the day, bullish momentum returned quickly, driving the asset to another peak above $113,000.

Altcoins also recorded notable gains over the past 24 hours. Hyperlane (Hyper) was one of the top-performing coins with a more than 330% jump in the last 24 hours. The token was trading at $0.4827 and hit its all-time high of $0.64 in the session, although it has since retreated from that level. The surge in Hyper was driven by the listing announcement of the HYPER/KRW pair on Upbit, one of South Korea’s largest crypto exchanges. Pudgy Penguins token soared 32% in the last 24 hours to $0.019. The token jumped after the U.S. Securities and Exchange Commission acknowledged Canary Capital’s paper to list a Pengu-based ETF. PI token jumped more than 6% to $0.49 after the Pi Core Team introduced a new no-code app development tool, Pi App Studio, during Pi2Day. The platform utilizes artificial intelligence (AI) to allow users to create decentralized applications (dApps) by entering simple prompts, making it accessible to individuals without technical backgrounds. More than 12,000 applications were created on the Pi App Studio in two weeks. SUI gained over 10% in the session to $3.39. A major driver of the recent bullish momentum is the launch of Threshold Network’s tBTC on the Sui blockchain. tBTC, an ERC-20 token backed 1-to-1 by bitcoin, is now integrated into the Sui network—a move that could introduce over $500 million in bitcoin liquidity. This development is anticipated to improve overall network liquidity and attract additional investor interest, potentially increasing demand for Sui tokens.

KULR Technology Group became the latest corporation to beef up its bitcoin treasury. The company acquired 90 BTC for approximately $10 million at an average price of $108,884 per coin, inclusive of fees and expenses. According to a post by CEO Michael Mo on July 9, 2025, KULR has achieved a year-to-date Bitcoin yield of 291%. The firm now holds a total of 1,021 BTC, acquired for around $101 million at an average cost of $98,627 per bitcoin. KULR confirmed that the latest acquisitions align with its Bitcoin Treasury Strategy, which was first introduced on December 4, 2024. Under this approach, the company allocates up to 90% of its surplus cash reserves to bitcoin. K Wave Media Inc. also announced a $1 billion financing package to advance its bitcoin acquisition strategy. The funding includes a newly signed $500 million convertible note agreement with Anson Funds and a previously disclosed $500 million standby equity purchase agreement with Bitcoin Strategic Reserve. As part of the initiative, K Wave has already acquired 88 BTC and plans to issue $15 million in senior secured convertible notes and warrants in the first tranche. The company intends to allocate at least 80% of these proceeds toward additional bitcoin purchases. The financing arrangement allows for the potential issuance of up to $500 million in convertible notes and warrants, with the conversion price set at $4.40 per share. KULR and K Wave join a growing list of publicly traded firms incorporating bitcoin into their treasury strategies, following in the footsteps of companies like MicroStrategy, a major corporate holder of the cryptocurrency. As bitcoin adoption expands, BTC yield is emerging as a key performance indicator for companies with digital asset holdings.