Bank of America Names Bitcoin 2025's Top Currency With 18.2% Gain

Bank of America has officially recognized Bitcoin as the top-performing currency for 2025 in a report released on July 9. This move marks a significant milestone in the cryptocurrency's journey towards mainstream acceptance. The report, titled "2025 Cross-Asset Winners & Losers," highlights Bitcoin's remarkable performance, which has outperformed traditional safe-haven currencies and most G10 currencies. Bitcoin's 18.2% year-to-date gain comfortably outpaces the Swedish krona (+16.4%), the Swiss franc (+14.2%), and the euro (+13.2%). The US dollar, by contrast, has lost 10.1% since the start of the year and is now the last among the 14 asset classes listed in the bank's rankings. Analysts attribute the decline to changing expectations for global interest rates and a decline in demand for dollar assets.

Bank of America's endorsement of Bitcoin as the leading currency for 2025 is a significant acknowledgment from a historically conservative financial institution. This recognition may spur increased institutional adoption of Bitcoin, potentially affecting overall market dynamics. However, no new funding initiatives from Bank of America have been announced yet. The announcement could potentially trigger broader institutional engagement, enhancing Bitcoin's legitimacy and aiding its widespread acceptance. The report didn't feature direct statements from Bank of America executives, but the official announcement highlights Bitcoin's remarkable performance in the current year.

Historically, endorsements from major financial institutions have boosted crypto market sentiment. In 2021, other financial institutions showed positivity towards cryptocurrency, which led to enhanced mainstream adoption. Bank of America's move now could further this trend. Past events indicate such endorsements typically boost crypto market sentiment. Increased institutional interest may positively affect Bitcoin and other digital assets. The bank's report confirms the approval from Wall Street, which has resulted in a rapid rise in the price of Bitcoin. On Friday, the BTC price surpassed $118,000, setting a new all-time high. This breakthrough raised Bitcoin significantly above its 50-day exponential moving average, which is currently at $106,434. This rise signals a resumption of the bullish trend and follows a period of steady price gains since early June. The current price is well above the mid-June range close to $100,000, indicating that momentum is increasing.

Bitcoin’s relative strength index (RSI) rose to 73.56, entering overbought territory. This reading reflects strong demand, but also suggests that the asset could face short-term resistance if buying pressure eases. The RSI has not been this high since late May, when the price stalled near $110,000. The bank's new report, “Winners and Losers of 2025,” confirms the approval from Wall Street, which has resulted in a rapid rise in the price of Bitcoin. On Friday, the BTC price surpassed $118,000, setting a new all-time high. This breakthrough raised Bitcoin significantly above its 50-day exponential moving average, which is currently at $106,434. This rise signals a resumption of the bullish trend and follows a period of steady price gains since early June. The current price is well above the mid-June range close to $100,000, indicating that momentum is increasing.