Bitcoin continues rally to surpass $110K for the first time
Bitcoin reached a new all-time high of $110,788.98 on May 21, gaining 3% in 24 hours and surpassing its previous peak of $109,458. The cryptocurrency has increased 17.5% this year and is up 47% since dropping to $75,000 on April 7. This surge coincided with a decline in US stock markets following a weak bond auction. Caroline Bowler from BTC Markets noted that the new high reflects a mature interest in digital assets, driven by institutional demand and regulatory clarity. Despite this, Google Trends show low retail interest in Bitcoin, typical of bear markets. The Crypto Fear & Greed Index scored 72, indicating "greed." Edward Carroll projected Bitcoin could reach $160,000 by year-end and $1 million by 2030. A trader's leveraged position exceeded $1.1 billion, with a liquidation point at $103,800.
