Bitcoin Breaks $110,000, Surges Over 4% in 24H — A New All-Time High
On May 22,, Bitcoin has officially broken its previous all-time high across all trading platforms, reaching a historic milestone. At the time of writing, BTC has crossed $110,000, with SuperEx quoting $110,949.48, marking a 24-hour gain of 4%.
To celebrate the moment, former U.S. President Donald Trump posted on Truth Social:“BITCOIN ALL TIME HIGHS, ENJOY!!”
Bitcoin’s total market cap has now exceeded $2.2 trillion, making it the fifth-largest asset by global market cap, trailing only gold, Microsoft, Nvidia, and Apple.
As we’ve said before, the crypto market today is no longer isolated. Assets are highly interconnected. In response to BTC’s new high, Ethereum, Solana, and others also posted gains of over 2.2%.
JPMorgan believes that driven by corporate demand and support from the U.S. government, Bitcoin may outperform gold in the second half of this year.
“From mid-February to mid-April, gold’s rally came at the expense of Bitcoin. However, over the past three weeks, we’ve seen the opposite — Bitcoin has surged while gold weakened,” JPMorgan stated.
“Overall, we expect this zero-sum dynamic between gold and Bitcoin to persist throughout the rest of the year. That said, we lean toward the view that crypto-native factors will increasingly drive Bitcoin’s upside in the second half.”
Why Did BTC Skyrocket? SuperEx Explains the Key Drivers Behind the Rally
- Global Regulatory Breakthroughs
BTC’s surge to a new all-time high was significantly driven by major breakthroughs in global regulatory frameworks.
First, Hong Kong’s Legislative Council officially passed the Stablecoin Bill, marking a milestone in Asia’s digital asset regulation. The bill introduces a strict licensing regime for fiat-backed stablecoins, making their issuance and circulation more transparent and secure. This greatly boosts confidence among market participants and lays a solid foundation for compliant digital asset development.
Second, the U.S. Senate passed a cloture motion related to the GENIUS Act, signaling substantial progress in crypto regulation. While the full framework is still evolving, this move reflects a growing supportive yet cautious attitude toward crypto from U.S. lawmakers, which helps attract more compliant institutional capital.
- Sustained Institutional Inflows Improve Market Liquidity
Beyond regulatory progress, capital inflows have been a major driver of this BTC rally. Market data shows institutional funds have seen five consecutive weeks of net inflows into Bitcoin.
Large asset managers and hedge funds are increasing their BTC exposure, significantly improving market liquidity.
As JPMorgan noted, corporate demand and U.S. government support are key to Bitcoin outperforming gold in the second half of 2025. This reflects growing mainstream recognition of BTC’s status as “digital gold”, and signals a shift toward long-term strategic positioning rather than short-term speculation.
- Bitcoin vs. Gold: A Zero-Sum Game in Motion
JPMorgan further pointed out that from mid-February to mid-April, gold’s rally appeared to come at Bitcoin’s expense, as capital flowed from crypto to traditional safe havens. But in the past three weeks, the trend reversed — Bitcoin surged as gold weakened, highlighting a zero-sum capital rotation between the two assets.
This dynamic deserves close attention. Investors should adjust portfolio strategies accordingly, as future price movement between BTC and gold will continue to offset each other, driven by macro trends and policy developments.
- Liquidity Tailwinds Provide Strong Upside Momentum
As mentioned earlier, institutional capital has flooded into Bitcoin over the past five weeks, driving a clear uptick in market depth and stability.
These institutional flows come with strong risk control frameworks and long-term investment horizons, providing consistent buy-side support and dampening volatility. Meanwhile, a more stable global macro backdrop has enhanced Bitcoin’s appeal as a hedge asset, encouraging capital migration from traditional assets to crypto.
At the same time, compliance improvements across exchanges and custodians have lowered the barriers for institutional participation. High-net-worth individuals and family offices are also joining the movement, further expanding buy-side demand.
- Macroeconomic Drivers Boost Bitcoin’s Hedge Appeal
Global inflationary pressure remains high, while monetary policy is tilting dovish again. In this context, Bitcoin’s role as a digital hedge is being reevaluated and reembraced.
Investors looking to hedge against inflation and dollar debasement are allocating more to Bitcoin to diversify from traditional market risks. Compared to gold, BTC offers greater liquidity, divisibility, and a technological innovation premium — which appeals to younger and tech-savvy investors.
As JPMorgan pointed out, BTC’s recent rally coincided with gold underperformance, suggesting a shift in how capital is being allocated across hedge assets. As confidence in the long-term trajectory of the crypto industry strengthens, Bitcoin’s safe-haven narrative will likely gain further traction.
- Technical Breakout + Positive Sentiment = Bullish Feedback Loop
From a technical perspective, BTC breaking through the $110,000 resistance level triggered a strong bullish signal. Market indicators show surging trading volume, golden cross formations across short- and mid-term moving averages, and clear positive momentum in investor sentiment.
(If you’re unfamiliar with what a “golden cross” means, check out the SuperEx Academy for a full technical breakdown.)
Additionally, media coverage and social media buzz around Bitcoin’s new ATH is spiking, increasing public attention and FOMO. This brings in new participants and amplifies buy-side pressure.
As confidence builds, short- and mid-term investors re-enter, creating a self-reinforcing price momentum loop. Market expectations remain bullish, drawing in fresh capital by the day.
Conclusion
Bitcoin breaking past $110,000 and setting a new all-time high isn’t just a price milestone — it’s a turning point for global crypto markets, marking a new era of regulatory clarity and institutional convergence.
The passage of Hong Kong’s Stablecoin Bill and the progress of the U.S. GENIUS Act have injected confidence into the market. Meanwhile, sustained institutional inflows demonstrate a clear recognition of crypto’s long-term value.
Bitcoin’s future is no longer just a narrative — it’s becoming a regulated, institutional-grade reality.
