#BTCBreaksATH110K Bitcoin (BTC) renewed its all-time high in the early hours of this Thursday (22), reaching US$58129590573111.878 during Asian trading, according to data from CoinGecko. At 6:45 am, the cryptocurrency was retreating slightly, trading at around US$58129590573110.400.

The new mark, reached hours after breaking the record price the day before, was driven mainly by institutional investors, who continue to increase their exposure to the asset, especially through exchange-traded funds (ETFs) and corporate balance sheets. “This break reflects a more experienced investor base, the increase in global liquidity and the greater presence of institutions in the market”, says Rony Szuster, Head of Research at MB. “This differentiates the current moment from other rallies we have seen in the past”. In May alone, spot ETFs in the US accumulated US$58,129,590,5733.6 billion in net inflows. “We are likely to see some volatility in the coming days, but the overall scenario is one of support. The trend is for this new level to serve as a basis for a more consistent appreciation throughout the second quarter,” says Szuster.