Bitcoin Surpasses $110,000 for the First Time, Setting New All-Time High Amid Broader Market Volatility

Bitcoin has reached a historic milestone, surpassing $110,000 for the first time late on May 21, as the cryptocurrency continues its strong upward trajectory amid a mix of macroeconomic uncertainty and growing institutional interest.

According to data from TradingView, Bitcoin (BTC) surged more than 3% in the past 24 hours, hitting a new all-time high of $110,788.98 on Coinbase shortly before 11:30 p.m. UTC. The digital asset is now trading at approximately $110,822 at the time of writing.

Earlier in the day, Bitcoin had already broken past its previous record of $109,458, set just hours before. That figure eclipsed the long-held peak from January 20, marking a significant psychological and technical breakout for the asset.

“Crossing the $110,000 mark is more than just a number—it signals renewed market confidence and underscores Bitcoin’s role as a hedge in uncertain times,” said Amelia Grant, Chief Market Strategist at Lumen Digital Assets. “We’re seeing inflows from institutional investors who view Bitcoin as a long-term strategic asset, especially in the face of growing concerns over fiat stability.”

A Resilient Climb

Bitcoin is now up around 17.5% year-to-date, and has gained over 47% since falling to a local low of $75,000 on April 7, following a sharp downturn in global financial markets triggered by U.S. President Donald Trump’s announcement of aggressive new tariffs. The sudden escalation in trade tensions sent shockwaves across equity markets and commodities, while briefly cooling risk appetite for digital assets.

Despite that pullback, Bitcoin quickly regained momentum, supported by strong institutional buying, positive ETF flows, and renewed interest from retail investors.

“Each time Bitcoin recovers from a steep correction, it emerges stronger and more resilient,” said Daniel Kwan, Senior Analyst at Veritas Crypto Research. “This breakout not only restores confidence, but also sets the stage for Bitcoin to challenge even higher levels in the months ahead.”

Traditional Markets Falter

Bitcoin’s historic rise coincided with a sharp downturn in U.S. equity markets. A poorly received 20-year Treasury bond auction on May 21 sent yields sharply higher, triggering a broad sell-off in risk assets. The S&P 500 dropped 80 points in under 30 minutes, while the Nasdaq Composite and Dow Jones Industrial Average also recorded steep intraday losses.

“Rising yields spooked equity markets, but the crypto space remained surprisingly resilient,” noted Emily Rodriguez, macro strategist at Phoenix Global Capital. “This divergence may highlight a shift in investor preference toward decentralized assets amid concerns about debt sustainability and monetary tightening.”

Looking Ahead

With Bitcoin breaking into uncharted territory, traders and analysts are now eyeing potential next levels. Some forecast continued upside momentum, particularly if regulatory clarity and ETF-related inflows persist. Others caution that volatility remains high and price corrections are likely.

“There’s a strong narrative building around Bitcoin as digital gold,” added Grant. “If geopolitical tensions intensify and traditional markets remain unstable, we could see a scenario where Bitcoin challenges $120,000 or even higher by mid-year.”

Meanwhile, market participants are watching closely for the next moves from the Federal Reserve, whose monetary policy decisions could influence risk sentiment and asset allocations across markets—including crypto.

As of press time, Bitcoin remains firmly above $110,000, holding ground after a record-setting day that could mark the beginning of a new phase in its market cycle.