On May 21, 2025, the crypto market exploded when Bitcoin (BTC) officially reached a new peak of $109,545, surpassing the previous high of $109,114 set earlier this year. This is a sign that the market is reacting strongly to a series of positive signals from both international politics and the domestic legal framework in the U.S.
What Sparked the Fire for This Bull Run?
The surge in Bitcoin is not coincidental, but comes from the resonance of many fundamental factors:
• U.S.-China trade tensions ease: A temporary agreement lasting 90 days between the U.S. and China, announced on May 12, helps reduce import tariffs and eases market uncertainty globally. The result? Investors are returning to high-risk assets like crypto.
• Clearer regulations for stablecoins: The U.S. Senate is pushing a bipartisan bill to create a legal framework for stablecoins – this is a signal that lawmakers are gradually warming up to digital assets instead of pushing them away.
• Institutional money continues to flow in: From BlackRock to traditional investment funds, major institutions are not only researching but also taking real action, making Bitcoin a strategic holding in their portfolios.
Technical Perspective: The Uptrend Shows No Signs of Stopping
• Golden Cross is forming: The 50-day moving average (SMA 50) is set to cross above the SMA 200 – this 'Golden Cross' pattern is considered a confirmation indicator for the medium-term uptrend.
• RSI is overbought but not exhausted: The RSI index remains in the zone above 70, indicating strong buying pressure, although the market may experience a slight correction to absorb profit-taking.
Some technical experts have started targeting the next milestones: $116,000 is the near resistance zone, and if surpassed, the 'fair value' zone in 2025 could be around $132,000, according to the growth model of global M2 money supply.
It's Not Just Bitcoin That Is Booming
Excitement is spreading throughout the altcoin market:
• Ethereum (ETH) is currently trading around $2,591, up more than 4.5% in the past 24 hours, continuing to maintain the number 2 position by market capitalization.
• The total market capitalization of crypto has surpassed $3.36 trillion, with Bitcoin accounting for over 60% – a figure that reflects absolute dominance.
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Looking Ahead: Is $110,000 Just a Stepping Stone?
The convergence of three factors: reduced geopolitical tensions, improved legal framework, and technical support for the uptrend is creating a solid foundation for BTC. The psychological level of $110,000 is just a small step away, and if the market continues to maintain momentum, a new wave of FOMO could be triggered.
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