Bitcoin breaks through $105,000, pulling within 3.5% of its all-time high

Bitcoin broke through $105,000 as traders responded to growing uncertainty across markets, pulling it within just 3.5% of its previous all-time high.

Bitcoin (BTC) on Monday pulled closer to its previous all-time high of $109,114 as traders responded to growing uncertainty across markets, pushing the coin up to $105,787.

The coin is currently trading at $103,592, holding firm above $100,000, a level it hasn’t touched since early May, according to data from CoinGecko.

The price has moved sideways for over a week now, showing bulls aren’t backing off yet and are still waiting for the next leg up. Bitcoin has also surpassed the $2.1 trillion market cap.

Since May 9, Bitcoin has been caught in a tight range, stuck between sellers capping its highs and buyers defending the lows. But the fact that it’s staying above $100K says a lot.

Traders are clearly still holding positions, waiting for a push through the $105,787 resistance. If that level gets cleared, momentum could quickly drive it toward $120,000, a target that’s now being floated by analysts watching the charts.

But if the bulls fumble and Bitcoin fails to break past its old record, short-term holders could start cashing out, leaving $100,000 wide open for a breakdown. A dip under $100,703 might trigger a deeper selloff, especially if market sentiment flips fast.

Arthur Hayes sees Bitcoin as exit plan from US capital walls

Arthur Hayes, the co-founder of Bitmex and now chief investment officer at Maelstrom, dropped his latest macro blog where he warned that the United States, under pressure from rising debt and heavy reliance on foreign funds, is likely to turn to capital controls as an alternative to tariffs.

"This is the next political move as it’s easier to explain to voters than more taxes or money printing," said Arthur.

He went on to suggest a 2% tax on foreign-owned U.S. assets, which he estimated at $33 trillion, saying it would be a more easily enforceable policy than tariffs.

"This level of taxation would cover the income taxes of 90% of Americans, making it politically expedient," he added.

However, he said the consequence would be foreign investors pulling back from U.S. markets in droves. And when that happens, the Federal Reserve will step in again with stimulus to try and stop the bleeding.

"Bitcoin will be the best-performing asset during this period of global monetary transformation," said Arthur.

Even with capital restrictions, he said people will still be able to move money using the internet.

"As long as there is the internet, you will be able to sell fiat for bitcoin."

US stock rebound drives shift toward global exposure and crypto

The broader market has now fully recovered from the April selloff. Major losses have been erased, and portfolios are back in the green. But for investors who rode the U.S. stock market through the chaos without diversifying, this rebound is being seen by some as a rare second chance. Many are now being told to look abroad—and some are listening.

Global markets actually outperformed U.S. stocks from January through April. For example, the VXUS ETF—which tracks international markets—has brought in over $6 billion so far in 2025. But that still looks small next to the $63 billion that’s poured into Vanguard’s S&P 500 ETF (VOO) this year. That fund is on track to smash its previous annual inflow record.

Despite that, analysts and portfolio managers are saying the message should be clear: investors who stayed too focused on U.S. stocks need to balance out.

Even old-school investing figures like Warren Buffett and Jack Bogle have always leaned U.S.-centric, arguing that multinational U.S. companies already earn revenue worldwide. But now, as reported by Bloomberg, Warren is dialing back on some of those long-held domestic bets and putting more capital into Japanese markets.