Bitcoin (BTC) reached around $103,000 on May 19, after recently recording its highest weekly close. The leading cryptocurrency briefly touched $107,115 in early trading on Monday, before trimming its gains. This increase pushed Bitcoin's market capitalization above $2.18 trillion for the first time, a milestone that indicates continued institutional demand and a capital rotation driven by macroeconomics towards cryptocurrencies.
Additionally, UTXO data shows that the supply of Bitcoin in wallets in the ranges of 1 to 10 BTC and 10 to 100 BTC has continued to rise, reinforcing investor confidence across the spectrum. The combination of sustained growth in realized capitalization, new ETF demand, and organic accumulation of wallets presents a structurally bullish outlook as BTC attempts to break through resistance near the $107,000 region.
