Bitcoin (BTC) Smashed Through the $110,000 Barrier to Reach a New All-Time High

Bitcoin (BTC) smashed through the $110,000 barrier to reach a fresh all-time high of around $111,800 today (which is also Bitcoin Pizza Day).

Bitcoin (BTC) smashed through the $110,000 barrier to reach a fresh all-time high of around $111,800 today (which is also Bitcoin Pizza Day). This explosive move comes amid growing institutional activity and optimistic signals from policymakers who want to loosen crypto regulations in key US states.

Now, the conversation has shifted from whether BTC could reclaim six figures to how quickly it could climb to $150,000.

One key development fueling Bitcoin’s most recent surge is the regulatory pivot taking place across international financial hubs. For instance, NYC Mayor Eric Adams joined crypto leaders at a recent summit, to urge lawmakers to scrap the state’s restrictive BitLicense framework.

This license, known for being quite challenging to obtain, has been placing a bottleneck on crypto’s growth in one of the world’s biggest financial markets.

Beyond the US, more jurisdictions are continuing to embrace digital assets. In a move to expand Hong Kong’s role as a leading digital asset hub, the government has introduced legislation to license and regulate stablecoin issuers.

These steps from various governments and institutions are part of a broader trend toward establishing regulatory frameworks that foster innovation while prioritizing investor protection.

Such efforts are boosting retail and institutional confidence in Bitcoin, which has seen a nearly 45% surge since April’s low of $75,000.

This bullish sentiment has also extended to projects closely tied to Bitcoin’s future, such as BTC Bull Token (BTCBULL). As the first-ever meme coin to link its rewards to Bitcoin price targets, BTCBULL has already attracted over $6.1 million in presale funding—with many BTC profit-takers using it to drive additional gains.

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Bitcoin’s Next Move? Bullish Analyst Eyes $150K as ETF Flows and State Buys Rise

Bitcoin price surged by 45% since bottoming out at $75,000 during April, notching up seven consecutive green weekly candles in an impressive rally.

A significant factor driving this momentum is the optimism from the institutional sector. As reported by Blockware Solutions, Bitcoin ETF inflows reached an astounding $600 million on May 21 alone.

Among the major institutional investors, BlackRock (NYSE:BLK) contributed over $530 million over the past 24 hours to several Bitcoin ETFs, marking the sixth straight day of positive ETF flows.

Furthermore, at the state level, a bill to create a state-held Bitcoin reserve fund was recently passed in Texas. This makes Texas only the second U.S. state, after New Hampshire, to be authorized to invest in and hold Bitcoin in its treasury.

The bill, which was approved by a vote of 101–42 in the Texas House, signals the increasing acceptance of Bitcoin as a strategic asset at the state level.

Capital is also rotating out of traditional safe havens like gold and into Bitcoin. Notably, the world’s largest gold-backed exchange-traded fund (ETF), iShares Gold Trust (GLD), experienced a record-breaking $2 billion in outflows last week.

This marks the biggest single-weekly withdrawal from the GLD ETF in twelve years, highlighting the significant shift in sentiment away from physical gold.

On the other hand, Blockware Solutions noted that major institutions are actively accumulating more Bitcoin. In total, institutions bought more than $567 million worth of Bitcoin in the past seven days.

This bullish activity is striking, especially considering that institutions have now purchased more than $6.2 billion in Bitcoin over the past 52 weeks.

Among the key pieces of on-chain data that support these bullish predictions is the fact that activity on the Bitcoin network remains high despite BTC’s climb.

This signals genuine adoption rather than hype-driven spikes that tend to burn out quickly.

The BTC price is now up 45% since April’s low of $75,000. It’s now trading at around $111,800. At the time of writing, the BTC price is at $111,288.06.

BTC price is up 45% since bottoming out at $75,000 during April. It has also lit seven green weekly candles.

Bitcoin ETF inflows reached $600 million on May 21 alone, according to Blockware Solutions. Among the major institutional investors, BlackRock (NYSE:BLK) contributed over $530 million over the past 24 hours to several Bitcoin ETFs. This marks the sixth straight day of positive ETF flows.

Another key development is that Texas has passed a bill to create a state-held Bitcoin fund. This makes