Bitcoin Smashes Records—$109,400 Breached in Historic Rally

Digital gold just got heavier. Bitcoin bulldozed past its previous ceiling, punching through $109,400 as institutional FOMO meets retail frenzy.

Wall Street analysts scramble to update price targets—while quietly liquidating their short positions. The ’greater fool theory’ has never looked so... profitable.

Meanwhile, traditional finance bros still waiting for that ’imminent collapse’ since 2013 now face a brutal choice: keep hating or start hedging.

The previous ATH of around $109,000 was set in January 2025. It’s worth noting that the exact all-time high varies across different platforms. According to CoinMarketCap and the Binance exchange, the previous ATH was recorded at $109,114, while CoinGecko reported it as $108,786.

The asset steadily moved toward new highs throughout the day. As noted by Paul Howard, director of the cryptocurrency trading firm Wincent, the likely drivers of the rally were positive regulatory developments in the U.S. and growing demand for the asset and its derivatives from institutional investors.

Since the beginning of May, over $3.6 billion has flowed into U.S. spot bitcoin ETFs, according to SoSoValue. Additionally, an increasing number of banks are shifting their stance on cryptocurrencies, beginning to offer their clients access to such assets. For example, JPMorgan Chase CEO Jamie Dimon recently stated that the bank would allow clients to purchase Bitcoin. Notably, the company believes that the leading cryptocurrency will surpass gold in terms of growth rate.

Earlier, BitMEX co-founder Arthur Hayes said that Bitcoin had already bottomed out in early April 2025 and is likely to continue rising in the NEAR term. Adam Back, CEO of Blockstream, went even further, expressing confidence that Bitcoin could reach $1 million during the current four-year market cycle.

Amid the price surge, Bitcoin’s market capitalization has exceeded $2.165 trillion, with its dominance over other cryptocurrencies standing at more than 63% at the time of writing, according to CoinMarketCap.

Moreover, thanks to this growth, Bitcoin has become one of the largest assets in the world by market capitalization, overtaking Amazon and ranking fifth overall.

Other cryptocurrencies reacted rather modestly to Bitcoin reaching record price levels. As of the time of writing, the so-called Altcoin Season Index from BlockchainCenter stands at 18, indicating a “Bitcoin season”.

Сообщение Bitcoin hit a new all-time high — the price exceeded $109,400 появились сначала на INCRYPTED.