Bitcoin price today: World's largest cryptocurrency gets back its mojo, hits $113,000-mark

Bitcoin price on Sunday hit the $113,000-mark. Bitcoin was up by 1.70 per cent to $113,571.80. The world's largest cryptocurrency by market value experienced a volatile October. Earlier in October, Bitcoin hit a record high at $125,000-mark. Bitcoin price has risen more than 33 per cent this year.

However, subsequently, the crypto market experienced the largest liquidations in history, with more than $19 billion wiped out across leveraged positions late on Friday. The crash came after Trump said he would impose 100 per cent tariffs on Chinese imports, in response to China announcing a major expansion of its rare earths export controls.




Bitcoin's previous record was $124,480 in mid-August, buoyed by friendlier regulations from U.S. President Donald Trump's administration and strong demand from institutional investors.

Bitcoin's ascent has coincided with the weakness of the U.S. dollar against major peers as Trump's tariffs on U.S. trade partners and uncertainty about their impact have prompted investors to diversify away from U.S. assets.

The crypto industry has emerged as a major lobbying force in U.S. politics. Big crypto companies spent more than $119 million backing pro-crypto U.S. congressional candidates in 2024 alone.

And since his election, Trump's administration has made major legislative changes to support the sector, helping send crypto prices to record highs.

FAQs

Q1. What is current price of Bitcoin?
A1. Bitcoin price on Sunday hit the $113,000-mark.

Q2. How has Crypto industry played pivotal role in U.S. Politics?
A2. The crypto industry has emerged as a major lobbying force in U.S. politics.