Bitcoin is charging toward a new all-time high, powered by institutional interest and a strong technical setup. The world’s most valuable cryptocurrency is now eyeing the $110,000 mark, though it faces stiff resistance at around $107,000 before it can break past its previous peak of $109,114.
As of 11:04 AM on Tuesday, May 20, Bitcoin was trading at $106,273—up 3.18% over the last 24 hours, according to CoinMarketCap. During the same period, it moved between $102,112 and $106,814, with daily trade volumes topping $57.8 billion. Bitcoin’s market cap now stands at a dominant $2.11 trillion.
Market momentum has been building rapidly. Analysts point to a clear shift in sentiment, with price action now driven by stronger fundamentals rather than hype. Key support levels have held firm, and the push toward the $107,500 resistance zone suggests bullish conviction is growing.
A major catalyst behind this surge is the steady flow of institutional capital. Spot Bitcoin ETFs have seen over $600 million in inflows for five weeks. In just the past 24 hours, inflows hit $360 million, driven by giants like BlackRock and JPMorgan. These moves signal growing mainstream acceptance and long-term confidence in the asset.
Bitcoin’s breakout appears to be gaining traction, with price action hinting at a possible lift-off beyond the $107K mark. Holding above $105,000 will be crucial for this momentum to sustain.
Ethereum and Altcoins Join the Rally
It’s not just Bitcoin on the move. Ethereum (ETH) has also surged past a key resistance at $2,500 after bouncing from support at $2,300. ETH was last seen trading 8% higher at $2,566, with a daily volume of $26.7 billion. Analysts note that the next target range is shaping up between $2,650 and $2,840.
Altcoins are riding the wave too. Solana (SOL) gained 3.89%, Cardano (ADA) rose 3.15%, Binance Coin (BNB) climbed 2.18%, and Ripple (XRP) added 1.8%. Meanwhile, Tether (USDT) held steady at $1, ticking up 0.03%.
A Maturing Market
With institutional players entering the space, the crypto market is showing signs of maturity. The focus is shifting from speculation to long-term utility and adoption. Bitcoin’s current setup—supported by ETF inflows, strong technicals, and mainstream interest—could be the beginning of its next major breakout.
