Bitcoin giant surpassed $110,000 for the first time, surging 3% during intraday trading on May 21 to break the record high price set earlier this year.
Bitcoin hit a new all-time high of $111,893 during mid-session trading, continuing its bullish trend since last week.
The world’s largest cryptocurrency has gained 17.5% since the start of the year and jumped 47% from its low of $75,000 on April 7, as global markets were buoyed by new tariffs introduced by US President Donald Trump.
Bitcoin’s new high came as US stocks were disrupted by a weak 20-year bond auction, pushing up Treasury yields on May 21.
The S&P 500 Index fell by 80 points in just 30 minutes, while the Nasdaq and Dow Jones also fell, with all major US indices trading lower on the day.
Caroline Bowler, CEO of BTC Markets, said in a note to Cointelegraph that Bitcoin’s new highs reflect a more mature interest in digital assets globally, rather than a speculative surge like in previous cycles.
Current demand is being driven by institutional-grade infrastructure and clearer regulation. Investor sentiment is now more solid, in line with institutional investment approaches.
Meanwhile, the Crypto Fear & Greed Index is at 72 out of 100, which is more inclined towards high Greed buying.
The index is down from its 2025 high of 84 on January 22, two days after Trump’s inauguration.
