New York News – The price of Bitcoin has risen sharply recently, soaring to $107,000 at one point, and is very close to its historical high level.
According to data from CoinGecko, on Monday, May 19th, the price of Bitcoin broke through the key resistance level of $107,000, reaching a high of $107,108 and hitting a new high since January 24, 2025. This price has brought it down by less than 2% from the historical high of $109,114 set on January 20, 2025.
In early April this year, due to global concerns over Trump’s tariff plan targeting certain trading partners, the price of Bitcoin once dropped to $74,000. However, as the US government begins to ease its tough stance and hints at the possibility of reaching an agreement, the price of Bitcoin is currently rising steadily.
While Bitcoin rose, other major cryptocurrencies such as Ethereum (ETH), Solana (SOL), and XRP also increased significantly, boosting market confidence. In addition, the actual market value of Bitcoin has once again set a record. As of May 18th, the total value of all UTXOs has reached 906 billion US dollars for the fourth consecutive week, demonstrating the market’s confidence in its value.
However, after breaking through $107,000, the price of Bitcoin has dropped significantly. As of the time of publication on May 19th, it was temporarily quoted at $104,771. Over the past 24 hours, the sudden surge and subsequent fall of Bitcoin have led to margin calls on both bulls and bears, with a total margin call amount of 575 million US dollars. Among them, the bulls accounted for 60% and the bears 40%.
Some analysts believe that the “ten-thousand-yuan step” upward pattern of Bitcoin’s price, which means it jumps by $10,000 every 7 to 10 days and then enters a sideways consolidation period, indicates that Bitcoin is losing its speculative nature and shifting towards the deeper logic of value storage. However, there are also danger signals indicating that the current situation may be at the “middle top of the cycle”, suggesting that the future price trend of Bitcoin remains uncertain.
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