Summary
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Bitcoin Hits Record $110,000: Bitcoin surged to an unprecedented all-time high above $110,000 on May 21, marking a 3% gain in 24 hours and a 47% increase since its April low, amid broader U.S. stock market volatility.
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Institutional Demand Over Retail Speculation: Experts like Caroline Bowler (BTC Markets CEO) attribute the new high to mature global interest and institutional-grade infrastructure, contrasting with low retail search interest typical of bear markets, even as the Crypto Fear & Greed Index indicates “greed.”
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Long-Term Bullish Projections: Financial analysts, such as Edward Carroll (MHC Digital Group), project that Bitcoin could reach at least $160,000 by Q4 of the current year and potentially $1 million by 2030, driven by growing demand.
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Massive Leveraged Bet Highlights Market Activity: Coinciding with the price peak, a significant 40x leveraged Bitcoin long position on Hyperliquidity exceeded $1.1 billion, becoming the largest on-chain margin trade and showcasing high-stakes market participation.
Bitcoin has registered a historic price level, exceeding $110,000 for the first time in its operational history, propelled by a notable 3% appreciation within the preceding 24-hour trading period.
This recent surge saw the leading cryptocurrency establish a new benchmark, surpassing previous price peaks observed earlier in the year.
Record Highs and Recent Price Performance
This valuation eclipsed an earlier peak of $109,458 achieved on the same day, which itself had represented the first instance of Bitcoin trading above its long-standing January 20 price record.
The premier global cryptocurrency has now demonstrated a year-to-date gain of approximately 17.5% and has appreciated by 47% since its decline to $75,000 on April 7.
Market Context and Broader Financial Volatility
Bitcoin’s attainment of this new price pinnacle coincided with significant volatility in U.S. equity markets, which were adversely affected by a subdued 20-year bond auction that led to a sharp increase in treasury yields on May 21.
Major U.S. stock indices, including the S&P 500, Nasdaq, and Dow Jones, all experienced declines during the trading day.
Expert Commentary on Evolving Investor Sentiment
Caroline Bowler, CEO of Australian cryptocurrency exchange BTC Markets, conveyed in a statement to Cointelegraph that Bitcoin’s new high signifies “a mature interest in digital assets worldwide, not the speculative surge seen in past cycles.”
She further elaborated, “Today’s demand is driven by institutional-grade infrastructure and stronger regulatory clarity.
Investor sentiment has shifted decisively, reflecting institutional-style allocations.”
Contrasting Retail Interest and Market Sentiment Indicators
Data from Google Trends indicates that public search interest for “Bitcoin” has been diminishing since November and is currently at levels typically associated with bear market phases in crypto, suggesting subdued retail participation in the current rally.
Concurrently, the Crypto Fear & Greed Index, a measure of market sentiment, registered a score of 72 out of 100 on May 22, indicative of “greed.”
This reading is down from its 2025 high of 84, recorded on January 22, two days after President Trump’s inauguration.
Also Read: Resurgence of Ethereum Potential Shift in Crypto Dominance from Bitcoin
Fundstrat analyst Sean Farrell believes Ethereum is making a significant comeback after being a “forgotten” blue chip. The recent price strength appears to be more organic and rooted in market structure, rather than specific hype. A potential shift at the Ethereum Foundation towards L1 scalability, diminishing short interest, and returning institutional flows could further bolster ETH’s recovery and user experience. Farrell is closely monitoring the ETH/BTC 100-day moving average and suggests a near-term ETH price of $3,100 if Bitcoin remains flat, with higher targets if Bitcoin rallies. Ethereum’s recent performance aligns with a broader shift in crypto risk appetite, similar to trends observed in small-cap…[Read More]
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