Bitcoin Exceeds $110,000 for First Time

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Bitcoin has soared past $110,000 for the first time, experiencing a 3% increase in a single day and surpassing its previous highs from earlier this year.

It reached a new record of $110,788.98 on Coinbase late on May 21, just before 11:30 pm UTC, as noted by TradingView.

Over the past 24 hours, Bitcoin has climbed roughly 3%, exceeding its previous record of $109,458 set earlier that day. This was the first time it surpassed the longstanding peak from January 20.

The largest cryptocurrency globally has gained 17.5% this year and surged 47% since it dropped to $75,000 on April 7, following US tariffs implemented by President Donald Trump.

This latest peak coincides with turmoil in US stock markets, triggered by a weak 20-year bond auction that drove up treasury yields on May 21. The S&P 500 fell 80 points in half an hour, with the Nasdaq and Dow Jones reflecting similar trends, causing a broad decline across US indices.