Bitcoin eyes rally beyond $150k as golden cross forms:
Bitcoin is on the verge of confirming a powerful golden cross pattern, which could set the stage for a breakout rally toward the $150,000 mark.
Bitcoin surged to a new all-time high of $111,544 on Thursday, May 22, afternoon Asian time, breaking past its previous record of $109,400 from just the day before. This new high marks a 48% jump from the April 7 low of just under $75,000, making it the second all-time high for BTC in 2025.
Alongside the price surge, Bitcoin’s market cap hit $2.2 trillion, while its realized cap also reached a new peak at $915 billion, highlighting how much value is flowing into the network.
A sharp uptick in trading activity has driven the rally. CoinGecko data shows 24-hour volume surged to $73.7 billion, compared to $50 billion on Wednesday and $40 billion on Tuesday.
That’s a noticeable jump, especially considering that earlier this month, daily volume had fallen below $30 million, its lowest since February.
BTC’s futures open interest also hit a fresh record of $81.35 billion, up sharply from the $46 billion level seen in early March.
Earlier this year, BTC faced strong headwinds as it tumbled more than 30% from January’s high of $109,588, bottoming below $75,000 in early April.
That correction came shortly after President Trump hinted at new tariffs on major U.S. trading partners. But sentiment improved mid-April, especially after the U.S. reached fresh trade agreements with several nations.
Another major factor driving the surge is the continued demand from U.S. spot Bitcoin ETFs, which have seen over $7.4 billion in net inflows over the past five weeks, including $609 million just on Thursday.
This has been backed by Bitcoin’s growing role as a treasury asset, prompting a wave of public companies to load the flagship crypto onto their balance sheets. Strategy, for example, has continued its aggressive accumulation, now holding over 2.7% of all Bitcoin in circulation.
