Bitcoin Hits Record Single-Day Dollar Gain

Monday marked a historic day for Bitcoin and the broader crypto industry, as Bitcoin reached a new all-time high price above $89,000 and set a record for the largest single-day dollar gain in its history. Data from Galaxy Research and Coinbase shows that Bitcoin surged by $8,343 over the course of the day, starting at $80,427.69 and closing at $88,770.73 after briefly topping out at $89,864.

The previous record for a single-day dollar gain was set on February 8, 2021, when Bitcoin jumped by $7,576 to close at $46,448, which was a peak at the time. The third-largest dollar gain happened earlier this year, on August 8, when Bitcoin increased by $6,561 in a single day. Monday’s surge, however, surpassed these previous records by a notable margin, highlighting the recent resurgence in Bitcoin’s value.

Bitcoin’s All-Time High Propels Crypto Market to Record Valuation

Bitcoin’s price gains helped push the total cryptocurrency market to a new peak valuation, breaking above $3.15 trillion on Tuesday, according to CoinGecko data. This surpasses the previous record of $3.07 trillion set in 2021 when Bitcoin reached a then-record price of about $69,000. The broader market’s new high underscores the growing institutional and retail interest in cryptocurrencies amid the current price rally.

Interestingly, while Monday set a record for the largest dollar gain in a single day, it wasn’t close to being the highest percentage gain for Bitcoin. That record remains with July 20, 2017, when Bitcoin rose by 27.2% in a single day to close at $2,873. By contrast, a similar percentage gain on Monday would have sent Bitcoin above the $100,000 mark, closing at around $102,304.

The Factors Driving Bitcoin’s Price Surge

Bitcoin’s latest rally follows significant institutional interest and anticipation around U.S. spot Bitcoin ETFs, combined with favorable market sentiment after the reelection of pro-crypto President Donald Trump. Investors expect a regulatory environment that could further legitimize and support digital assets under the new administration.

Bitcoin’s price has since cooled slightly, trading at around $86,100 on Tuesday, down from Monday’s high but still reflecting strong upward momentum. The surge is being closely watched by analysts as a potential indicator of renewed long-term bullishness for Bitcoin and other digital assets.

Bitcoin’s record single-day dollar gain and new all-time high underscore the cryptocurrency’s growing mainstream acceptance and the strength of recent investor interest. As the broader crypto market reaches unprecedented valuations, Bitcoin’s latest rally may be a sign of continued momentum and the increasing influence of digital assets on the global financial landscape.