Bitcoin is once again testing new highs after a 2.82% rally lifted its price to $105,941 on May 20, 2025. With momentum building and resistance levels under pressure, analysts say a breakout toward $110,000 could be imminent.
Bitcoin rally fueled by momentum, institutional support
BTC/USD rose from the $102,000 support level earlier this week and broke through key resistance at $104,200 and $106,000. It’s now trading firmly above $105,500 and the 100-hourly simple moving average, according to Kraken data.
A bullish trend line is forming near $105,800, providing short-term support. Immediate resistance stands at $107,000, with further levels at $107,200 and $107,500. If Bitcoin closes above these levels, the next stop could be $108,800 and then $110,000—potentially setting a new all-time high.
- Current BTC price: $105,941.58
- 24-hour gain: +2.82%
- Market cap: $2.10 trillion
- Daily volume: $59.84 billion
- BTC dominance: 53.2%
Historical context: record highs in sight
Bitcoin’s previous all-time high of $109,358 was reached on Jan. 20, 2025. Analysts like Scott Melker noted on May 19 that Bitcoin closed its highest daily candle in history. Rekt Capital added that the market may be forming a new macro higher high, signaling long-term strength.
Institutional demand also continues to grow. MicroStrategy purchased 7,390 BTC last week, bringing its total holdings to over 200,000 BTC. Futures open interest hit a record $36 billion, showing confidence among leveraged traders.
Ethereum and altcoins surge alongside BTC
Bitcoin’s rise coincides with broader gains across the crypto market:
- Ethereum (ETH): Up 8.27% to $2,567.46 on ETF speculation and macro tailwinds.
- XRP: Up 1.67% to $2.38 as Ripple expands cross-border payments in the UAE.
- BNB: Up 2.11% to $650.62
- Solana (SOL): Up 3.56% to $169.85
- Dogecoin (DOGE): Up 3.48% to $0.2262
- Cardano (ADA): Up 2.53% to $0.7421
What could trigger the next breakout?
Bitcoin’s next breakout hinges on clearing the $107,500 resistance. If successful, BTC could challenge the January record and potentially break above $110,000. Market conditions—fueled by ETF optimism, institutional buys, and macroeconomic clarity—continue to support bullish sentiment.
However, downside risks remain. Failure to hold above $105,000 could push BTC back toward $104,200 or $102,500, key support zones to watch.
Key takeaways
- BTC is up 2.82% and trading above $105,900.
- Technical signals and institutional interest point to more upside.
- Resistance lies at $107K–$107.5K; next target is $110K.
- Ethereum leads altcoin gains with over 8% jump.
- Total crypto market cap is $3.34 trillion, up 2.81% in 24 hours.
Stay updated with the latest crypto developments as Bitcoin moves closer to setting a new all-time high.
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