Bitcoin (BTC) Price Hovered Near $103,000 on May 19 After Recently Recording Its Highest Weekly Close

Bitcoin (BTC) hovered near $103,000

Bitcoin (BTC) hovered above $103,000 on Friday after notching its highest weekly close. The top cryptocurrency briefly touched $107,115 in early Monday trading before trimming gains.

The surge propelled Bitcoin’s market capitalization above $2.18 trillion for the first time. This milestone is noteworthy as it signals an ongoing shift in institutional capital toward cryptocurrency.

Insiders' Circle: Moody’s Cuts U.S. Credit Outlook, JPMorgan Warns of Recession

Amid rising global uncertainty, Moody’s downgraded the U.S. credit outlook, setting the stage for long-term fiscal deterioration, according to a report by Bloomberg.

Meanwhile, JPMorgan (NYSE:JPM) CEO Jamie Dimon issued a stark warning of a potential recession in the United States. In an interview with CNBC, Dimon cited sticky inflation, unresolved trade tensions, and the return of protectionist policies as key threats.

These signals have raised interest in safe-haven assets once again, with Bitcoin, gold, and select equities attracting capital inflows.

In other developments, a high-stakes trade summit between the U.K. and EU raised concerns about future regulatory shifts that could alter capital flows. The uncertainty is already being felt in currency markets, where traders are pricing in higher volatility premiums for GBP and EUR pairs.

In a separate development, Japanese firm Metaplanet has increased its Bitcoin holdings by over 1,000 BTC, bringing the total to 7,800 BTC. This move follows a report by Blockware Solutions, which highlighted a decrease in liquid BTC on exchanges and a potential shift in favor of structured products.

Crypto Market Week Ahead: Technicals Flash Overheated Conditions, Macro Headwinds Grow Louder

The crypto market is setting the stage for a volatile week as technicals flash overheated conditions and macro headwinds grow louder.

On-chain data continues to reflect robust bullish undercurrents, echoing the macro narrative laid out in the opening section. Realized capitalization crossed a fresh record of $906 billion on Thursday, indicating heightened conviction from both institutional and long-term holders.

This metric, which assigns value based on the price at which each Bitcoin last moved, adds weight to the ongoing accumulation phase and aligns with Bitcoin’s climb above $104,000.

Notably, the realized cap increased by over $14.3 billion in just ten days, closely mirroring net inflows into Bitcoin spot ETFs and corporate holdings. BlackRock’s iShares Bitcoin Trust (IBIT) alone added more than 10,000 BTC during this stretch, reaffirming the strength of demand from institutional allocators.

At the same time, wallet activity in the 100 to 1,000 BTC range grew by 2.2%, with an additional 122,540 BTC being accumulated since May 8. This mid-size cohort often represents whales or treasury buyers, further reinforcing the strategic nature of accumulation at current price levels.

Supporting this, Binance’s spot net volume delta flipped back into positive territory, reflecting a surge in spot market activity and waning sell-side pressure. Sharp increases in this metric have historically foreshadowed local tops. However, in this instance, the move aligns with healthy demand rather than euphoria, given the realized cap gains and ETF flows.

Finally, UTXO data shows that Bitcoin supply held by wallets in the 1–10 BTC and 10–100 BTC bands has continued to rise, showcasing investor confidence across different tiers. The combination of sustained realized cap growth, fresh ETF demand, and organic wallet accumulation paints a structurally bullish picture as BTC attempts to breach resistance near the $107,000 region.