🚀🚀 The price of Bitcoin ventures into new territory, driven by ETF frenzy and moderate inflation 🚀🚀
🪙 Bitcoin Soars to $110,730 — Is the Next Destination a Big Leap?
Throughout the day, bitcoin reached new highs several times, with the last peak hitting $110,730 per unit. At that point, BTC seemed to stabilize, oscillating just below the $110,000 level at 8:58 p.m.. The leading digital asset has risen 47.82% since it bottomed out at $74,434 on April 6, an increase of over $35,000 to the current range.
Bitstamp recorded the milestone of $110,730 exactly at 7:15 p.m. Eastern on May 21. Analysts from Bitfinex attributed the surge to consistent and organic buying pressure in the spot market.
“This movement has initially been an adjustment—as we rise with short liquidations and the first breakout may reverse in lower timeframes,” Bitfinex analysts told our news team.
“From here on, the next zones to watch are $114K–$118K (small liquidity barriers) and then $123K–$125K, where large open interest in options is increasing,” concluded Bitfinex analysts in their note on Wednesday.
“As long as ETF inflows remain and macro doesn’t deliver a surprise, this rally has room to extend. Pullbacks should be seen as entry opportunities, not as signs of reversal.”
