Bitcoin has topped $110,000 for the first time in a current rally that has seen it acquire 3% over the previous day to break by previous value highs from earlier this yr.
Bitcoin (BTC) hit a brand new all-time excessive of $110,788.98 on Coinbase late on Might 21, simply earlier than 11:30 pm UTC, according to TradingView.
Bitcoin has gained round 3% over the final 24 hours, surpassing its all-time high of $109,458 that it hit earlier in the day, which was the first time it traded above its beforehand long-held Jan. 20 peak.
The world’s largest cryptocurrency has now gained 17.5% to date this yr and is up 47% since its hunch to $75,000 on April 7, triggered by US President Donald Trump enacting sweeping tariffs that tanked international markets.
Bitcoin’s new peak comes as US inventory markets had been rattled by a weak 20-year bond public sale, which despatched treasury yields hovering on Might 21. The S&P 500 fell 80 factors in half an hour whereas the Nasdaq and Dow Jones mirrored the transfer, with all US indexes buying and selling down on the day.
Caroline Bowler, CEO of the Australian crypto trade BTC Markets, mentioned in a word to Cointelegraph that Bitcoin’s new excessive “displays a mature curiosity in digital property worldwide, not the speculative surge seen in previous cycles.”
“Right now’s demand is pushed by institutional-grade infrastructure and stronger regulatory readability. Investor sentiment has shifted decisively, reflecting institutional-style allocations,” she added.
In accordance to Google Developments, searches for Bitcoin have been trending down since November and are at lows typical of crypto bear markets, indicating a low retail curiosity in the cryptocurrency.
In the meantime, the Crypto Worry & Greed Index, which tracks market sentiment, was at a score of 72 out of 100 on Might 22, indicating “greed.” The index is down from its 2025 excessive of 84 on Jan. 22, which got here two days after Trump’s inauguration.
Associated: How high can Bitcoin price go?
Edward Carroll, head of worldwide markets and company finance at MHC Digital Group, advised Cointelegraph in a word that rising demand driving the value increased in the medium-term may push Bitcoin to no less than $160,000 by the fourth quarter of this yr and $1 million by 2030.
Dealer’s leveraged Bitcoin guess tops $1.1B
In the meantime, leverage dealer James Wynn’s Bitcoin lengthy place on the crypto platform Hyperliquidity has turn out to be the largest onchain margin commerce when it exceeded $1.1 billion amid Bitcoin’s value peak.
The entry level for the 40x leveraged place was $108,065 and it has an unrealized revenue of $20 million. It will likely be liquidated if Bitcoin’s value falls to $103,800.
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