Bitcoin Nears New Record High as Nonfarm Payrolls Exceeds Expectations

Bitcoin could be nearing a new high thanks to a few positive economic factors that have come into effect this week.

Written by: Timothy St. John • Thursday, July 3, 2025 • 2 min read

• Last updated: Thursday, July 3, 2025

Bitcoin is very close to achieving a record high.

Quick overview

Bitcoin (BTC) has surged to $110,126, nearing its all-time high due to positive economic developments.
A recent trade deal between the U.S. and Vietnam, along with a strong Nonfarm Payrolls report, has contributed to this increase.
The cryptocurrency has gained 2.44% in the last 24 hours and is only 1.59% away from setting a new record.
Analysts predict Bitcoin could reach $135K in the next three months, supported by favorable economic conditions.

Several positive economic factors have pushed Bitcoin (BTC) to $110,126 (BTC/USD) at the time of writing, very close to its record high.

Is Bitcoin going to hit a new high this week?

It looks like Bitcoin will be setting a new record soon, and we can thank Thursday’s Nonfarm Payrolls report and a trade deal between the U.S. and Vietnam for the boost.

On Wednesday, President Donald Trump announced on social media that the United States and Vietnam had agreed on a trade deal that would tax Vietnamese imports at 20%. The Nonfarm Payrolls report for June showed that 147,00 jobs were added, which is more than was estimated.

Bitcoin had been gaining ground slowly for the past few days, ever since a ceasefire was announced in the Middle East between Iran and Israel. With news that the United States would not be engaging in a drawn out battle in the Middle East, investors were confident enough to buy in on Bitcoin.

Bitcoin is now just 1.59% away from a new record and has gained 2.44% over the last 24 hours. The coin may only hours from achieving a new record high thanks to the aforementioned positive economic factors.

Bitcoin Price Prediction

Once Bitcoin sets a new record, which seems inevitable at this point, that will significantly boost consumer confidence in the coin. Bitcoin has had trouble moving much beyond its record highs, so there is a risk that it will retreat as soon as the new record is achieved. However, we think that many of the whales will add to their holdings very soon to help bolster the coin and push that record even higher.

Since BTC has shown exceptional stability over the past few weeks, it is not outrageous to think that it will continue to post record highs over the coming weeks. The coin may hit $135K in the next three months, according to some analysts, with a 2025 high of over $150K.

Many factors are working in its favor right now, including paused tariffs, minor economic improvement, steady inflation, and relative peace in the Middle East. This is the perfect time for Bitcoin to climb very high, and with its recent history, it is expected that the coin will hang onto most of its gains.

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ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.