Bitcoin (BTC) Price Hits New All-Time High of $111,800, Setting a New Record for the Second Consecutive Day

Bitcoin (BTC) surged to $111,800 on Friday, setting a new all-time high for the second consecutive day, according to CoinGecko.

Bitcoin (BTC) price today hit $111,800 as key data showed bullish momentum being driven by large whale moves and Pizza Day euphoria.

Bitcoin Price Rallies on Bitcoin Pizza Day Optimism

Bitcoin (BTC) surged to $111,800 on Friday, setting a new all-time high for the second consecutive day, according to CoinGecko.

This bullish momentum comes amid enthusiasm surrounding Bitcoin Pizza Day, a historic event in crypto which fell on May 22. The symbolic nature of the event, paired with strong market fundamentals, drove increased buying sentiment.

At the time of writing, Bitcoin price is $111,557, up 1.6% over the last 24 hours, and trending green on all key long-term time frames, with the largest gains on the 30-day (19.3%) and 1-year (61.4%) candles.

These gains point to deep structural strength in BTC’s current rally. Friday’s 1.8% surge confirms that Bitcoin price has broken past its previous resistance levels decisively, buoyed by whale demand and macro tailwinds.

$76B Whale Transactions Signal Institutional Momentum Behind Bitcoin Rally

According to blockchain analytics firm IntoTheBlock via Sentora, Bitcoin large transactions spiked dramatically, crossing $76 billion on May 13, almost doubling from $37 billion just three days prior (May 10).

These large transactions track the real-time trading activity of institutional wallets moving BTC worth $100,000 per transaction or more.

This activity coincides with BTC’s breakout above $105,000, suggesting that whale accumulation is accelerating price discovery.

Chart: Block III via IntoTheBlock

According to Ben Armstrong of the crypto channel "Crypto Ben," sustained volume spikes in large transactions have previously foreshadowed major bullish periods in Bitcoin cycles.

The trend signals growing institutional confidence in Bitcoin, perhaps fueled by anticipation of reduced U.S. interest rates, and the ongoing narrative around BTC as digital gold in a post-halving era.

Positive Volume Delta Confirms Broader Market Participation

Beyond whale activity, the volume delta, the net difference between buying and selling pressure, has flipped decisively bullish.

While the volume delta remains volatile, the last six sessions showed net positive demand on four occasions, including a strong 2,770 BTC bar earlier on Thursday, indicating persistent spot market buying on Binance.

This confirms that the rally is being supported not only by institutional inflows on OTC desks but also by retail participants on exchanges.

BTC price surged from $94,000 to $111,430 in just 10 days, a 18.5% gain, with daily candlesticks consistently closing in the upper Bollinger Band range.

Volume levels, while varied, remained robust, further validating widespread interest. The breakout above the $103,500 mid-band now acts as dynamic support.

Coupled with the steep upward curvature of the Bollinger Bands and multiple closes outside the upper band, market momentum remains evident.

Analysts are increasingly setting their sights on $120,000 as the next key resistance zone, where psychological and technical confluences converge.