Overview

• Bitcoin reached a new all-time high of $109,856 on May 21, 2025, surpassing its previous peak from January during Donald Trump's inauguration.
• The price increase is driven by bipartisan progress in the U.S. Congress on stablecoin regulation, signaling growing clarity in the crypto market's legal framework.
• Eased U.S.-China trade tensions, including a 90-day tariff pause, and a trade agreement with the UK have improved the macroeconomic outlook, bolstering investor confidence.
• Institutional adoption continues to grow with significant inflows into Bitcoin-linked ETFs and the establishment of a U.S. national strategic Bitcoin reserve under the Trump administration.
• Bitcoin's rise follows a volatile year, including a dip below $75,000 in April, highlighting its sensitivity to global economic and regulatory developments.