Bitcoin has surged to a new record peak of $109,400.68, surpassing its previous high from January 20th.
The current bullish trend in May has propelled Bitcoin (BTC) to unprecedented heights. On Wednesday, May 21st, the cryptocurrency achieved a new all-time high value of $109,400.68, marking a 4.52% increase over the preceding 24-hour period.
Positive technical indicators paved the way for this surge, with Bitcoin successfully breaching its 21-day Exponential Moving Average (EMA), which is now acting as a support level. Over the past month, the price has consistently established higher peaks and valleys. Presently, the $102,790 mark represents a robust support level for Bitcoin.
This recent upward momentum has driven Bitcoin’s value beyond its former all-time high of $109,114.88, recorded on January 20th. That high was a result of the broader crypto market surge that began in November. Over the last month, Bitcoin has gained 24.10%, and its value has increased by 55.73% over the past year.