The cryptocurrency climbed to $109,767.52, its highest price ever, even as traditional markets cooled due to concerns over sovereign debt.

BTC Soars to Record High Amid Stock Market Slump and Rising Yields

As the U.S. grapples with record levels of unwieldy debt, rising bond yields, and a choppy stock market, bitcoin ( BTC) has quietly recorded its highest price ever, breaking the $109K barrier on Wednesday morning for the first time since its previous all-time high in January.

Republican lawmakers are currently bickering over President Donald Trump’s so-called “big, beautiful bill,” a 1,116-page document that will deliver tax cuts to the tune of $4 to $5 trillion according to some outlets. The Congressional Budget Office says the bill, if passed, would subsequently heap on another $3.8 trillion to the country’s debt which is fast approaching $37 trillion.

The ever-increasing debt levels have triggered a jump in bond yields, with the 30-year treasury yield topping 5%. Stock market performance has been mixed, with the Nasdaq gaining 0.19% while the S&P 500 and the Dow both dropped 0.30% and 0.86% respectively, as per CNBC. But with bitcoin roaring past $109K, crypto markets climbed 3.96%, reaching a $3.44 trillion market capitalization, according to Coinmarketcap.

(30-Year Treasury bond yield / CNBC)

“If you’re not buying bitcoin at the all-time high, you’re leaving money on the table,” said Michael Saylor, Chairman of software firm turned bitcoin treasury pioneer, Strategy.

Overview of Market Metrics

Bitcoin surged to an all-time high of $109,767.52 but is currently trading at $107,051.33 after a slight pullback. The cryptocurrency has posted a 0.80% gain over the past 24 hours and appreciated 3.82% over a seven-day period, according to Coinmarketcap. BTC has been trading between $105,250.50 and $109,767.52, ultimately breaking through key resistance levels and its market capitalization now stands at $2.12 trillion, up 0.70% since yesterday.

( BTC price / Trading View)

The asset’s rally triggered a 34.67% jump in trading activity, with 24-hour volume rising to $66.92 billion. Bitcoin’s price appreciation has also bumped up its market dominance, which edged higher to 64.15%, up 0.13 percentage points since yesterday. Open interest in BTC futures climbed 11.18% to $79.84 billion, suggesting that derivatives traders are increasingly positioning for further price movement.

( BTC dominance / Trading View)

Data from Coinglass painted a grim picture for bearish traders. Total liquidations over the past 24 hours amounted to $15.01 million, with a hefty $14.23 million wiped from short positions. Longs accounted for just $785,920 in liquidations, highlighting how bears were punished for betting in the wrong direction during the historic rally.

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