Bitcoin price has once more broken the $111,000 barrier for the first time. BTC price achieved a new high of $111,970 on Thursday, May 22, 2025, almost touching the $112,000 mark during the surge.
The action follows a dramatic 4% increase in the last 24 hours, shattering its previous high of $111,600 just earlier in the same day. At the time of writing, the Bitcoin price was still at $111,632, which is around 5% higher than the previous day. The 24-hour trading volume of bitcoin is above $80 billion, indicating tremendous activity and interest on exchanges worldwide. Meanwhile, the market capitalisation of bitcoin has already surpassed $2.22 trillion.
Thus far in 2025, Bitcoin has risen 20%, and it has risen 49% since hitting $75,000 on April 7. That decline was triggered by economic uncertainty following U.S. President Donald Trump’s imposition of sweeping tariffs, rattling conventional financial markets. However, a few factors influenced Bitcoin’s rejection at the $112,000 level.
While Bitcoin is all-time high, the $113,000 level is still a significant resistance level, defined by a long-term trend line connecting the earlier major highs. Even a slight pullback or consolidation above $113K would be a pleasant aspect of the trend, but an explosive breakthrough above this level may lead to a fresh wave of positive momentum. Nonetheless, if Bitcoin reaches $115,000, it would indicate significant purchasing demand and perhaps pave the door for substantially higher values.
However, not everything is ideal behind the scenes. As per the data of CoinGlass, huge BTC inflows to exchanges indicate some investors are possibly gearing up to sell in the last 24 hours. Coinbase Pro and Binance had enormous Bitcoin deposits, with Coinbase Pro taking approximately 1,500 BTC and Binance over 2,300 BTC. Gemini took around 640 BTC as well. The inflow indicates possible selling pressure down the line.
In contrast, exchanges including as Bitfinex (559 BTC), OKX (93 BTC), and Kraken(1,971 BTC) saw significant withdrawals. This outflow indicates that some BTC investors are prepared for long-term holding.
In short, Bitcoin’s strong price faces mixed signals from large exchange inflows and outflows. The $113,000 resistance is key, breaking it could trigger a rally, but a pullback is possible.
Also Read: Bitcoin Price Hits All-Time High of $111,600, Eyes $115K Next
