Bitcoin has topped $110,000 for the primary time in a current rally that has seen it acquire 3% over the previous day to interrupt via previous worth highs from earlier this 12 months.
Bitcoin (BTC) hit a brand new all-time excessive of $110,788.98 on Coinbase late on Could 21, simply earlier than 11:30 pm UTC, in keeping with TradingView.
Bitcoin has gained round 3% over the past 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% up to now this 12 months 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 have been rattled by a weak 20-year bond public sale, which despatched treasury yields hovering on Could 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, mentioned in a be aware to Cointelegraph that Bitcoin’s new excessive “displays a mature curiosity in digital belongings 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 line with 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 within the cryptocurrency.
In the meantime, the Crypto Worry & Greed Index, which tracks market sentiment, was at a rating of 72 out of 100 on Could 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 excessive can Bitcoin worth go?
Edward Carroll, head of worldwide markets and company finance at MHC Digital Group, informed Cointelegraph in a be aware that rising demand driving the worth greater within the medium-term might push Bitcoin to not less than $160,000 by the fourth quarter of this 12 months and $1 million by 2030.
Dealer’s leveraged Bitcoin wager tops $1.1B
In the meantime, leverage dealer James Wynn’s Bitcoin lengthy place on the crypto platform Hyperliquidity has change into the most important onchain margin commerce when it exceeded $1.1 billion amid Bitcoin’s worth peak.
The entry level for the 40x leveraged place was $108,065 and it has an unrealized revenue of $20 million. Will probably be liquidated if Bitcoin’s worth falls to $103,800.
Journal: Arthur Hayes $1M Bitcoin tip, altcoins ‘highly effective rally’ looms: Hodler’s Digest