Bitcoin Smashes Records: Weekly Close Tops $106K in Historic First

Markets reel as BTC defies gravity—and Wall Street’s ’overbought’ whining—with a blistering weekly candle. The king coin’s relentless rally leaves shorts vaporized and institutional FOMO meters pegged at ’max greed.’

Meanwhile, goldbugs quietly sob into their safe-haven spreadsheets.

Scott Melker, an investor, noted that bitcoin closed at its highest point in a single day on May 18. According to Analyst Rekt Capital, a move above $105,000 would create a new high, indicating the bulls are still in charge.

Bitcoin has gained almost $12,000 in the month of May, rising from $94,000 to $106,800 and then slightly falling. The price increase is similar to what happened in November, when BTC ROSE by $30,000 in only three weeks.

On top of that, McKenna from Arete Capital mentioned the return of the Coinbase premium which points to greater demand for cryptocurrencies in the United States. They mentioned that the bid on a Sunday night was unusual which could mean something major is coming.

On the other hand, analyst Willy WOO pointed out that Bitcoin’s growth rate is declining, but it remains higher than most other assets. He believes that BTC’s growth will settle around 8% each year for the next 15–20 years.

Currently, Bitcoin remains one of the strongest performers in the financial market.

Also Read: Bitcoin Surpasses $2.18 Trillion Market Cap for First Time