Bitcoin has achieved a significant valuation milestone, surpassing the $110,000 level for the first time in its history, an ascension supported by a 3% increase in value over the preceding 24-hour period.
This recent upward price movement has established a new historical peak for the leading cryptocurrency, eclipsing previous highs recorded earlier in the current year.
Price Trajectory and Key Valuation Milestones
Data sourced from TradingView indicates that Bitcoin (BTC) reached a new all-time high of $110,788.98 on the Coinbase trading platform late on May 21, occurring shortly before 11:30 pm Coordinated Universal Time (UTC).
This peak value exceeded an earlier high of $109,458 attained on the same day, which itself had marked the initial instance of Bitcoin trading above its long-held price ceiling established on January 20.
The foremost global digital currency has now accrued a year-to-date gain of approximately 17.5%.
Furthermore, it has appreciated by 47% since a notable price depreciation on April 7, when its value fell to $75,000.
According to reports, the then-U.S. implemented extensive tariffs that contributed to the earlier downturn.
President Donald Trump’s actions caused significant drops in global financial markets.
Correlation with Broader Market Volatility
Bitcoin’s attainment of this new valuation peak occurred contemporaneously with pronounced volatility in United States equity markets.
A lackluster 20-year bond auction adversely impacted these markets, contributing to a sharp rise in treasury yields on May 21.
Consequently, major U.S. stock indices, including the S&P 500, Nasdaq, and Dow Jones, all registered declines during the trading session.
Retail Engagement Versus Market Sentiment Indicators
Analysis of Google Trends data reveals that public search query volume for “Bitcoin” has exhibited a downward trend since November and currently resides at levels typically indicative of cryptocurrency bear market conditions.
This data suggests a comparatively subdued level of retail investor engagement in the present rally.
Meanwhile, the Crypto Fear & Greed Index, an instrument designed to gauge prevailing market sentiment, registered a score of 72 out of a possible 100 on May 22, a reading categorized as “greed.”
This index level is below its 2025 peak of 84, recorded on January 22, which followed two days after President Trump’s inauguration.
Future Valuation Projections and Significant Market Positions
Edward Carroll, serving as head of global markets and corporate finance at MHC Digital Group, conveyed to Cointelegraph his projection that persistent demand.
If it continues to exert upward pressure on prices in the medium term, it could potentially drive Bitcoin’s valuation to a minimum of $160,000 by the fourth quarter of the current year, with a long-range target of $1 million by the year 2030.
In a notable market event, a substantial leveraged Bitcoin long position maintained by trader James Wynn on the Hyperliquidity cryptocurrency platform has become the largest recorded on-chain margin trade.
This position exceeded $1.1 billion in value as Bitcoin’s price ascended to its new peak.
The entry point for this 40x leveraged trade was $108,065, and it currently holds an unrealized profit of $20 million.
The position is structured for liquidation should Bitcoin’s price decline to $103,800.
