It took bitcoin exactly four months to break its mid-January all-time high of just over $109,000 (at the time, on most exchanges), and shipped to almost $109,600 (on Bitstamp) minutes ago.
The asset has left well over $110 million in shorts liquidated with its latest rally, according to data from CoinGlass.
It felt impossible a month and a half ago to talk about a new record. BTC’s price had tumbled to under $75,000 during the darkest hours of the Trump-induced trade war and little hope was to be seen.
However, the asset used the next 30 to 45 days to reverse its trend completely and broke above $100,000 on May 8 – it hasn’t looked back ever since.
The past few days saw a lot of volatility, and BTC came inches away from tapping a new all-time high on a couple of occasions, only to be stopped at $108,000 earlier today.
After a pullback to $106,000 today, the cryptocurrency went on the offensive once again in the past few minutes and blasted through its previous all-time high to chart a fresh peak.
There were certain indicators suggesting that the bulls are poised to prevail in this ongoing battle against the bears, as reported yesterday. For instance, the accumulations by whales and corporations have gone through the roof in recent weeks, which is typically a catalyst for a price explosion.
Interestingly, today’s new peak comes just a day before the well-known and celebrated Bitcoin Pizza Day (May 22).
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