According to the data, bitcoin (BTC) was in Beijing at 7.30 p.m. on May 22nd.CoinbaseThe platform has reached a new historical high of $11,078.98.
In the past 24 hours, the price of bitcoin has risen by about 3 per cent, surpassing the historical peak of $10,9458 reached earlier that day, which was also the first time that it exceeded the 20 January peak that had long been maintained.
As the largest encrypted currency in the world, Bitcoin has so far increased by 17.5 per cent, to 47 per cent since 7 April, when the global market collapsed to $75,000 as a result of the full-scale tariff imposed by United States President Donald Trump.
The new peak of Bitcoin coincided with the collapse of the United States stock market as a result of the weakness of the 20-year bond auction and the sharp rise in the return on national debt on 21 May. The Standard & Poor ' s 500 index fell 80 points in half an hour, and the NASDAQ and Dow Jones indices showed a similar trend, with all major United States indicators showing a downward trend that day.
According to Google Trends, bitcoin searches have continued to decline since November, at a typical low point in the encrypted bear market, indicating a low interest of retail investors in the encrypted currency.
At the same time, the index of encrypted fear and greed, which tracks market sentiment, scored 72 (100 out of 100) on 22 May, showing a “grace”. The index was down from its peak of 84 on 22 January 2025, two days after Trump took office.
In his notes to Cointelegraph, Edward Carroll, Director of the MHC Digital Group Global Marketplace and Corporate Finance, stated that the growing demand to drive price increases in the medium term could bring Bitcoin to at least $160,000 in the fourth quarter of this year and $1 million in 2030.
At the same time, when bitcoin prices peaked, the leverage trader James Wynn had more than $1.1 billion in multiple positions on the encryption platform Hyperlibrity, making it the largest chain bond trade.
The entry point for the 40-fold leverage position was $10,8065, with an unrealized profit of $20 million. If the bitcoin price falls to $103,800, the position will be liquidated.