Bitcoin set a new record, reaching $108,955

Bitcoin set a new all-time high, surpassing its previous record set in January. According to Coin Metrics, the leading cryptocurrency's price rose by 2%, reaching $108,955.10, and earlier climbed to $109,857.

During the day, Bitcoin temporarily lost some of its gains following a spike in U.S. Treasury bond yields and a decline in the stock market. However, the cryptocurrency later recovered its position and rose above its previous record once again.

Bitcoin has been steadily rising in May after several weeks of uncertainty related to trade tariffs. Over the month, the cryptocurrency increased by 15%, and the total inflow into exchange-traded funds tracking Bitcoin's price exceeded $40 billion. Only two days in May saw capital outflows, according to SoSoValue data.

This growth is also linked to increased liquidity in the stock market, which supports demand for riskier assets. At the same time, concerns about U.S. trade tariffs and budget deficits have contributed to the rise of alternative assets such as gold and Bitcoin.

According to CryptoQuant, blockchain analytics also show reduced selling pressure. In particular, the amount of Bitcoin flowing into cryptocurrency exchanges has decreased, while the volume of the stablecoin Tether on exchanges has reached new records, indicating increased liquidity in the crypto market.

Investors expect that further regulatory developments and corporate investments will support Bitcoin's growth. Since the beginning of 2025, the volume of Bitcoin held by public companies has increased by 31% and now stands at approximately $349 billion. This represents about 15% of the total Bitcoin supply in circulation, according to Bitcoin Treasuries data.

Source: CNBC