Bitcoin Blasts Past $110,000 to New All-Time High Amidst Institutional Inflows

Bitcoin has reached a new all-time high, surging past the $110,000 mark for the first time ever. As of press time, the world’s largest cryptocurrency was trading at $110,032.39, up 3.46% in the past 24 hours, capping off a remarkable rally in May.

This new peak eclipses the previous all-time high of $108,099, set on January 20, 2025. Bitcoin had first crossed the symbolic $100,000 threshold in December 2024 following US President Donald Trump's reelection, a moment that catalyzed renewed interest in digital assets.

Bitcoin’s ascent marks a significant turning point in its evolution from a volatile retail speculation vehicle to a recognized component of global investment portfolios.

“Investor sentiment has shifted decisively,” said Valentin Fournier, lead analyst at BRN. “What we’re seeing now are institutional-style allocations and a strong embrace of Bitcoin as a strategic asset.”

ETF Inflows, Treasury Adoption Fuel Rally

The surge has been fueled in part by strong inflows into U.S.-listed Bitcoin ETFs, with recent data from SoSoValue indicating $6.4 billion in net inflows over the past four weeks, underscoring deepening institutional participation. Bitcoin’s total market capitalization now stands at an eye-popping $2.17 trillion, placing it firmly among the largest and most liquid assets globally.

Further bolstering the rally is a wave of corporate treasury activity, with a new cohort of companies following in the footsteps of Strategy (formerly MicroStrategy). In May alone, firms like Twenty One by Tether , David Bailey''s Nakamoto and KindlyMD , Strive by Vivek Ramaswamy , Méliuz by Israel Salmen, and Nuvve by Gregory Poilasne announced substantial Bitcoin acquisitions. Established players such as Strategy, Marathon Digital (MARA), and MetaPlanet have also continued to expand their holdings, often using leverage.

Bitcoin is now up approximately 25% month-to-date.

Macro Backdrop Contrasts With Rocky Equities

Bitcoin’s record-setting run comes amid a contrasting picture in traditional equity markets. The S&P 500 snapped its recent win streak, closing Wednesday down 1.61% at 5,844.61. The Dow Jones Industrial Average fell 816.80 points, or 1.91%, to 41,860.44, while the Nasdaq Composite lost 1.41%, ending at 18,872.64.

Equity markets were pressured by a sharp rise in long-term Treasury yields. The 30-year bond yield surged to 5.09%, its highest level since October 2023. The 10-year Treasury note yield also rose, hitting 4.59%.

The spike came amid concerns that a new U.S. budget bill, expected to pass ahead of Speaker Mike Johnson’s Memorial Day deadline, could further balloon the nation’s deficit. A poorly received 20-year bond auction only added to investor anxiety about America’s long-term fiscal health.

In contrast, Bitcoin appears to be benefiting from this uncertainty. Investors increasingly view it as a store of value and a hedge against both monetary debasement and geopolitical instability.

Easing trade tensions between the U.S. and China have also helped lift overall risk sentiment, further supporting risk-on assets like Bitcoin.