Bitcoin surged to a fresh all-time high on Wednesday, surpassing its previous January peak and cementing its place at the forefront of the global financial conversation.
Bitcoin price surged to a new all-time high on Wednesday, outpacing its previous January peak and remaining a hot topic in the global financial conversation.
The world’s leading cryptocurrency rose as much as 2% to $108,955.10 according to Coin Metrics, after briefly touching an intraday record of $109,857.
The rally came despite a brief period of reversal, when spiking Treasury yields and falling equities saw bitcoin briefly give up its gains. However, the flagship digital asset quickly recovered, highlighting its increasing resilience in the face of macroeconomic volatility.
After a period of sluggishness that was fueled by trade-related uncertainty, bitcoin has staged a robust comeback in May, notching a 15% gain for the month.
The surge comes amid a wave of liquidity in equities that has buoyed risk assets, while ongoing concerns over U.S. tariffs and budget deficits have prompted a flight to alternative stores of value like gold and bitcoin.
Exchange-traded funds (ETFs) tracking bitcoin have also seen strong support, with cumulative inflows exceeding $40 billion last week and only two days of outflows in May, according to data from SoSoValue. On-chain analytics from CryptoQuant further suggest that selling pressure has decreased, as evidenced by decreasing bitcoin inflows to exchanges and record amounts of Tether (USDT), a leading stablecoin, on trading platforms, which indicates ample market liquidity.
Investors are keeping an eye on expected regulatory developments and a trend of corporate treasury allocations into bitcoin, both of which are seen as catalysts for further price gains. The number of bitcoins held by public companies has increased by 31% since the start of the year, now valued at about $349 billion, which accounts for 15% of the total bitcoin supply, according to Bitcoin Treasuries.
In the policy sphere, the U.S. Senate advanced legislation to establish the nation’s first regulatory framework for stablecoins, a move seen as crucial for the crypto sector’s next chapter. President Donald Trump has stated that he wants crypto regulation on his desk by August, ahead of Congress’s August recess.
The month also delivered a symbolic boost for the industry, as the leading crypto exchange Coinbase joined the S&P 500, an inclusion that many view as a turning point for mainstream crypto acceptance.
