Bitcoin Value Skyrockets to Record-Breaking High, Exceeding $109K

Bitcoin broke its all-time high record of just above $109,000, a milestone reached only four months ago. This surge caused over $110 million worth of shorts to be liquidated. A month and a half ago, this seemed inconceivable as Bitcoin's value plunged below $75,000 amid the Trump-induced trade war.

However, within 30 to 45 days, the digital currency managed to reverse this downward trend, surpassing $100,000 on May 8. Despite some recent volatility and a couple of close calls, Bitcoin finally exceeded its previous record, charting a fresh peak.

This surge appears to be driven by increased accumulation by whales and corporations, usually a catalyst for a price explosion. Notably, this new peak comes just before the celebrated Bitcoin Pizza Day on May 22.