Bitcoin just made history again. For the first time ever, it closed a weekly candle above $107,000, marking its highest weekly close in history. Though the price has since slightly pulled back, it still trades around $105,000.
🔥 Bitcoin Is Less Than 3% From All-Time High
According to CoinGecko data, Bitcoin currently holds above $104,300, just under 3% from breaking its previous all-time high. In May alone, the price has already climbed $13,000, from $94,000 to over $107,000.
This explosive growth echoes the November 2021 bull run, when Bitcoin surged $30,000 in just three weeks. The current momentum feels just as strong.
🏦 Metaplanet Buys More BTC, Follows MicroStrategy's Lead
One of the key drivers behind the rally is institutional interest — notably from Metaplanet, a publicly traded Japanese firm. The company just purchased 1,004 BTC for $104 million, bringing its total holdings to 7,800 BTC (worth around $812 million). This is a clear vote of confidence in Bitcoin’s long-term potential.
🧠 Arthur Hayes: U.S. Treasury Spending Quietly Pumps Liquidity
BitMEX co-founder Arthur Hayes told Fortune that the U.S. government is spending more than it admits, increasing liquidity without officially raising debt. He noted that Treasury cash reserves fell from $750 billion to $450 billion this quarter — a result of “extraordinary measures” allowing spending without breaching the debt ceiling.
“The government can't borrow more right now, so they're using loopholes to spend money,” Hayes explained. He added that Treasury debt increased 22% year-over-year in Q1, and that Treasury Secretary Janet Bessent may soon issue more bonds.
That, Hayes argues, will inject more dollars into the system, pushing up Bitcoin prices. “I believe BTC will break $110,000, and I expect a rally to $150K–200K this summer or early Q3,” he said.
However, Hayes cautioned that altcoins might not perform like they did in 2021. "We'll see a new narrative, but old 'dino coins' with high FDV, low float, and no real user base likely won’t make a comeback."
💹 Realized Cap Hits Record, ETFs Drive Demand
Bitcoin’s realized market cap — based on the price of each UTXO at its last movement — hit a new record of $906 billion, up 1.6% in just 10 days. This growth reflects a wave of new capital entering the market.
Bitcoin has been consolidating around $104,700, a key resistance level. Once breached, the next target is $107,757, followed by a potential breakout to fresh all-time highs.
🐋 Mid-Size Whales Are Accumulating
The wallets holding 100 to 1,000 BTC have seen the biggest growth recently. In the past 10 days, these wallets added 122,540 BTC, increasing from 5.56 million to 5.68 million BTC — a 2.2% rise. This shows that mid-sized investors are still accumulating, not selling — a classic bullish signal.
🧊 ETFs: BlackRock Leads the Pack
Spot Bitcoin ETFs in the U.S. had another strong week, with a net inflow of $608 million. The leader was once again BlackRock’s iShares Bitcoin Trust, which brought in over $840 million — more than all other ETFs combined.
BlackRock increased its BTC holdings from 621,600 to 631,902 BTC, a jump of 10,302 BTC (1.66%). While other funds remained flat or slightly trimmed positions, BlackRock stood out as the only major buyer.
⏳ Summary: Bitcoin Poised for a New Breakout — The Stage Is Set
With a record-setting weekly close, growing accumulation, and fresh institutional flows, Bitcoin is back in the spotlight. Will we see a new all-time high this week? All signs point to yes — and this might just be the beginning of a powerful new chapter.
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