On May 22, Bitcoin reached a new all-time high of $111,899, according to CoinGecko — a 4% gain on the day and over 17% year-to-date.

📈 The price broke above its previous peak of $109,500 and entered a new price discovery phase, where traditional resistance levels carry less meaning.

The global crypto market capitalization rose to $3.6 trillion, still below the $3.9 trillion peak in December due to underperformance in altcoins.

Institutions Drive the Market

The rally is fueled by strong institutional inflows, with U.S.-based spot Bitcoin ETFs seeing six consecutive days of net inflows, totaling over $2 billion.

Michael Saylor’s Strategy firm has purchased 324,000 BTC in the past 8 months — more than all other public companies combined.

💼 According to Saylor Tracker, the company’s BTC holdings are now worth $63.7 billion, with $23.5 billion in unrealized profit.

Japanese firm Metaplanet has also increased BTC reserves as part of its inflation-hedging strategy.

Retail Remains Cautious

Retail traders, however, appear subdued. Social sentiment, search trends, and small-wallet activity remain near bear-market lows, suggesting ongoing skepticism despite bullish price action.

Analyst CrypNuevo predicts further gains, setting a target of at least $115,000 in the coming weeks.

🍕 Bitcoin Pizza Day

Fittingly, May 22 is also Bitcoin Pizza Day, marking the first recorded use of BTC for a physical purchase. In 2010, programmer Laszlo Hanyecz spent 10,000 BTC on two Papa John’s pizzas — an amount worth over $1.1 billion today.

Once a quirky footnote in crypto history, the pizza purchase now symbolizes how far Bitcoin has come.

Happy Bitcoin Pizza Day! 🎉

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