On May 22nd, $BTC set a historical high on Pizza Day, with the price once soaring to $111,880, now stabilizing around $110,800.
Since rebounding from a low of $74,500, it has closed higher for 7 consecutive weeks. If it can hold above $106,500 this week, it will set the record for the longest consecutive gains since October 2023.
With the price surge, Bitcoin's market cap reached $2.19 trillion, surpassing Amazon's $2.15 trillion, making it the fifth largest asset in the world, trailing behind gold, Microsoft, NVIDIA, and Apple.
Interestingly, Bitcoin has risen by 16.44% this year, while Amazon's stock price has dropped by 8%, showing a completely opposite trend.
Since Trump's election, Bitcoin has surged wildly, and BlackRock's Bitcoin spot ETF (IBIT) has attracted $9 billion in funds this year, becoming the fifth most inflow ETF. Now many listed companies have hoarded $349 billion in Bitcoin, and traditional financial giants like JPMorgan have also started to accumulate.
Analysts in the market are quite optimistic about Bitcoin's future, but the predicted prices vary widely. Trader Titan of Crypto suggests through technical analysis that this year's target price could be between $135,000 and $140,000; veteran trader Peter Brandt feels that it's normal for a bull market to reach new highs, predicting it could rise to between $125,000 and $150,000 by the end of August; technical analyst Gert van Lagen is even more optimistic, believing it could reach between $300,000 and $320,000, as Bitcoin has broken through a four-year technical pattern, potentially leading to further increases. However, some analysts warn of risks; Alphractal CEO João Wedson states that the price is now in a high leverage area, and market makers may clear out overly optimistic traders; everyone should not just focus on new highs but must manage risks well.
