Bitcoin (BTC) surpassed its all-time high from January 2025 to record a new peak at $109,458. However, the rally didn’t stop there as the apex crypto continued its upward momentum and climbed above the $110,000 mark for the first time in its 16-year history.
Bitcoin Price Continues to Rally After Setting New ATH
According to data from TradingView, BTC price hit $110,798 just before 11:30 UTC, gaining 3% in value over the past 24 hours to surpass the ATH it struck earlier in the day. This was also Bitcoin’s seventh consecutive green weekly candle since it began the comeback from March’s $74,500 yearly low. The market cap and realized market cap of the world’s largest and most valuable cryptocurrency also reached record highs at $2.17 trillion and $911.5 billion, respectively.
Bitcoin has gained 17.5% so far this year, and it is up 47% since declining to its lowest point of 2025 on April 7 after global markets tanked on the back of President Trump’s sweeping tariffs on more than 200 of America’s trading partners.
The flagship crypto continues to hold its elevated position and is currently trading above $111,000. Its new peak comes amid US stock markets being rattled by a weak 20-year bond auction, which sent treasury yields to the moon on May 21. The S&P 500 dropped by 80 points in half an hour, while the Nasdaq and Dow Jones mirrored the trend. All US indexes were trading downward yesterday.
Analysts Suggest Latest BTC Price Rally is Driven by Institutional Demand Rather than Retail Interest
Presto Research analyst Min Jung noted that Bitcoin’s surge past $110,000 is being driven primarily by institutional and long-term capital rather than retail speculation. The market research firm considers the current rally as an “early innings” of a fundamental shift in how institutions value Bitcoin.
Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder, purchased 7,390 coins on Monday to bring its total holdings to 576,230 BTC, worth around $64.117 billion at the current market rate.
Meanwhile, Strive Enterprises, an asset management firm co-founded by former Republican presidential candidate Vivek Ramaswamy, announced plans to build a Bitcoin treasury by claiming distressed coins. According to a filing with the US Securities and Exchange Commission (SEC) on Tuesday, the company plans to acquire 75,000 BTC, worth about $8.2 billion, from the estate of defunct crypto exchange Mt. Gox.
Japanese investment firm Metaplanet purchased 1,004 BTC for approximately $104.3 million on May 19, bringing its total holdings to 7,800 BTC, valued at just over $806 million at current prices. The Tokyo-listed company was inspired by Strategy’s Bitcoin treasury model and began acquiring the asset by raising capital through bond sales in April 2024.
Speaking to crypto media outlet Cointelegraph, Caroline Bowler, CEO of Australian crypto exchange BTC Markets, said that Bitcoin’s new peak reflects “institutional-style allocations” and is not based on the speculative surge seen during past cycles but from a matured interest in digital assets globally. She noted that the current demand is driven by institutional-grade infrastructure and stronger regulatory clarity surrounding the asset class, decisively shifting investor sentiment.
This notion was also supported by Google Trends data, which showed that searches for “Bitcoin” have been trending downward since November and are at lows observed during bear markets. This indicates that retail interest in BTC is low.
Roshan Robert, CEO of OKX exchange’s US division, said the latest rally is a combination of corporate reserve accumulations, surging Bitcoin ETF inflows, macroeconomic uncertainty, and favorable regulatory signals.
Also Read: Strive Plans to Acquire 75,000 Bitcoin From Mt. Gox Claims to Build a Bitcoin Treasury
Bitcoin Bulls and Traders are Aiming $150,000 Bitcoin by Q4 2025
As of May 22, Bitcoin has a Fear & Greed Index Score of 72 out of 100, indicating “greed” among buyers. However, the index is still below its 2025 high of 84, recorded on January 22, just two days after President Trump’s inauguration.
Presto Research has predicted a peak of $210,000 per Bitcoin for 2025, while prominent crypto trader ‘Titan of Crypto’ believes that a price target for $135,000 remains in play for this year. Technical analyst Gert van Lagen has set a much higher price target for BTC, between the $300,000 and $320,000 level.
MHC Digital Group head Edward Carroll noted that growing institutional demand that is driving Bitcoin’s price higher in the medium-term could push it to at least $160,000 by Q4 2025 and $1 million by 2030.
At the time of writing, Bitcoin is trading at $111,312 – up 3.25% in the last 24 hours.