Bitcoin Price Hits New All-Time High Over $111,000 as Bullish Momentum Grows

Highlights:

• Bitcoin surpassed $111,500, driven by strong market momentum and increased trading volumes.
• BTC rally is supported by significant ETF inflows, regulatory advances, and macroeconomic uncertainty.
• Companies like Strategy keep buying more Bitcoin, growing their profits and holdings.

Bitcoin (BTC) reached a new all-time high of $111,544 on Thursday, bouncing back after briefly falling to $106,000, as per data from CoinGecko. The asset exceeded $109,500 on Wednesday and has entered a phase of exploring new price levels. The rally was fueled by strong institutional investment and other positive market factors, pushing it past its previous all-time high. At the time of writing, BTC was trading at $111,209, up 3.5% in the past 24 hours. Trading volume jumped 77% during this time, pushing the market cap to $2.21 trillion.

Altcoins such as Ethereum, XRP, and others also saw gains from the market’s positive trend. Ethereum rose 1% in the last hour to hit $2,612, while XRP went up 1.07% to $2.41. Google Trends shows BTC searches have dropped since November. This means less interest from regular investors.

The Crypto Fear & Greed Index was 73 out of 100 on May 22, showing the market is feeling “greedy.” But this is less than the high of 84 in January. That high happened right after Trump took office. This means some investors are excited, but most people are not paying much attention. Analyst “CrypNuevo” predicted Bitcoin will rise to at least $115,000 in the coming weeks.

$BTC update:

New ATH unlocked as promised! 🤣🤝

Personally, I don't think that was all. More to come in the following weeks/months, at least $115k should come in my opinion.

Consolidation and acceptance here until the weekend would be a lower risk entry than last week. https://t.co/gbaEFW87Tf pic.twitter.com/KOgNYTC3j9

— CrypNuevo 🔨 (@CrypNuevo) May 21, 2025

Multiple Factors Fuel Bitcoin Price Rally

Roshan Robert, CEO of OKX’s U.S. division, said the recent rally in Bitcoin is driven by multiple factors. These include companies adding Bitcoin to their reserves, a significant rise in inflows to Bitcoin ETFs, ongoing macroeconomic uncertainty, and positive developments in regulation. 

Robert added that when these factors combine with Bitcoin’s limited supply, it creates a perfect situation for its strong comeback. Presto’s Jung suggested that the research firm views the current rally as only the beginning of a major change in how institutions value Bitcoin. He also indicated that their 2025 price target of $210,000, which was initially shared in late 2024, is still intact.

In the United States, spot Bitcoin exchange-traded funds have attracted more than $2 billion in new investments over six consecutive trading days. BlackRock’s iShares Bitcoin Trust (IBIT) saw a big boost as more investors rushed to buy into Bitcoin’s strong rally. On May 21, the ETF received $530.6 million in new funds, its largest inflow since early May. 

IBIT has had steady interest with no outflows since April 9. In just one day, the fund added 4,931 BTC, while only 450 new bitcoins were mined during the same period. It also had its busiest trading day since January, showing rising demand among institutional buyers. ETF Store president Nate Geraci said that considering today’s trading volume, these inflow numbers are likely to grow.

Over $500mil into iShares Bitcoin ETF…

Nearly $2bil just over past week or so.

Inflows 26 of past 27 days.

*$7+bil* in new $$$ overall.

Given trading volume today, expect these inflow numbers to increase.

— Nate Geraci (@NateGeraci) May 22, 2025

El Salvador and Strategy See Huge Gains from Growing Bitcoin Stakes

At the same time, companies like Michael Saylor’s Strategy and Japan’s Metaplanet are buying more Bitcoin to add to their treasury holdings. On May 22, Digital Capital Strategist Jeff Walton called Strategy “the top Bitcoin buyer,” noting that the company has purchased 324,000 BTC in the past eight months. 

Strategy holds 576,230 BTC at an average price of $69,749 per coin, controlling nearly 2.8% of the total Bitcoin supply, according to Bitcoin Treasuries data. With Bitcoin reaching new highs, Strategy’s unrealized gains hit $23.5 billion, valuing their holdings at $63.7 billion, according to the Saylor Tracker.

Strategy isn’t the only one gaining from Bitcoin’s price surge. Governments and early adopters also benefit. El Salvador, the first country to make BTC legal tender, has $386 million in unrealized profits. Despite criticism and IMF limits, El Salvador keeps buying Bitcoin. Its holdings now worth about $677 million.

They said, “Don’t take screenshots, take profits” 🤷🏻‍♂️ https://t.co/dEKP5Y4qzc pic.twitter.com/2lx8sPWBSJ

— Nayib Bukele (@nayibbukele) May 22, 2025