Bitcoin has topped $110,000 for the primary time in a latest rally that has seen it achieve 3% over the previous day to interrupt via previous value highs from earlier this 12 months.
Bitcoin (BTC) hit a brand new all-time excessive of $110,788.98 on Coinbase late on May 21, simply earlier than 11:30 pm UTC, according to TradingView.
Bitcoin has gained round 3% during the last 24 hours, surpassing its all-time excessive of $109,458 that it hit earlier within the day, which was the primary time it traded above its beforehand long-held Jan. 20 peak.
The world’s largest cryptocurrency has now gained 17.5% thus far this 12 months and is up 47% since its droop to $75,000 on April 7, triggered by US President Donald Trump enacting sweeping tariffs that tanked world 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 May 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 alternate BTC Markets, stated in a word to Cointelegraph that Bitcoin’s new excessive “reflects a mature interest in digital assets worldwide, not the speculative surge seen in past cycles.”
“Today’s demand is driven by institutional-grade infrastructure and stronger regulatory clarity. Investor sentiment has shifted decisively, reflecting institutional-style allocations,” she added.
According to Google Trends, searches for Bitcoin have been trending down since November and are at lows typical of crypto bear markets, indicating a low retail curiosity within the cryptocurrency.
Meanwhile, the Crypto Fear & Greed Index, which tracks market sentiment, was at a score of 72 out of 100 on May 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.
Related: How excessive can Bitcoin value go?
Edward Carroll, head of world markets and company finance at MHC Digital Group, instructed Cointelegraph in a word that rising demand driving the worth increased within the medium-term might push Bitcoin to no less than $160,000 by the fourth quarter of this 12 months and $1 million by 2030.
Trader’s leveraged Bitcoin wager tops $1.1B
Meanwhile, leverage dealer James Wynn’s Bitcoin lengthy place on the crypto platform Hyperliquidity has develop into the most important 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 probably be liquidated if Bitcoin’s value falls to $103,800.
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