Bitcoin Hits New Record High Above $110K
In a remarkable rally, Bitcoin has surpassed the $110,000 mark for the first time, with a 3% gain in the past day, breaking former price records from earlier in the year.
It achieved a new peak of $110,788.98 on Coinbase late on May 21, shortly before 11:30 pm UTC, based on TradingView data.
In the last 24 hours, Bitcoin has risen approximately 3%, outpacing its earlier high of $109,458 set the same day, marking a departure from its long-standing January 20 peak.
The leading cryptocurrency has gained 17.5% this year and is up 47% since its April 7 slump to $75,000, which was influenced by widespread tariff imposition by President Donald Trump. Bitcoin’s latest milestone coincides with disruptions in US stock markets caused by a weak 20-year bond auction on May 21, which escalated treasury yields.
The S&P 500 dropped 80 points swiftly, with the Nasdaq and Dow Jones mirroring the decline, indicating a downward trend across all US indices.
