JAKARTA - Bitcoin jumped to a new high of 116,046 US dollars (Rp1.88 billion) on Friday, July 11, after perching at US$113,000 or around Rp1.83 billion the previous day.
Analysts say the spike was driven by requests from institutional investors and friendly policies from the administration of President of the United States (US) Donald Trump.
In addition, the increase in Bitcoin to this new high was also driven by strong inflows into the ETF, persistent corporate adoption by crypto treasury companies, and an increasingly profitable climate of regulation.
"Although the macro environment will remain uncertain, we believe the bullish market is still far from over, more institutional platforms that allow access to Bitcoin can help push BTC prices to $140,000 or higher this year," said Gerry O'Shea, head of global market insight at Hashdex, citing Coindesk.
Not only Bitcoin, Ethereum (ETH) also showed positive performance by surging past the $2,650 zone. Ethereum (ETH) is now trading above $2,720.
As of July 11, 2025, the price of Ethereum was recorded at around $2.963, equivalent to Rp48,222,464, an increase of 7.11% in the last 24 hours.
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In an ambitious prediction, BitMEX co-founder Arthur Hayes projects the price of ETH will reach 10,000 US dollars (Rp162 million). This prediction has significant weight, especially given ETH's increasing demand for treasury.
It should be noted that Arthur Hayes' bullish views on ETH reflect the institution's increased accumulation of Ethereum.
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