Bitcoin Surges to New All-Time High Amid Institutional Momentum
On May 22, the crypto community celebrates Bitcoin Pizza Day — the anniversary of the first real-world Bitcoin transaction, when developer Laszlo Hanyecz bought two pizzas in 2010 for 10,000 BTC, an amount now worth over $1.1 billion. Coinciding with this symbolic holiday, Bitcoin has reached a new all-time high of $111,880 per coin. This historic milestone is fueled by key institutional developments and strong market confidence.
BlackRock’s IBIT Among Top 5 ETFs Globally
According to Bloomberg, BlackRock’s spot Bitcoin ETF, IBIT, has surged into the top 5 global ETFs by net inflows in 2024, attracting over $9 billion in net investments. Just a month ago, it ranked 47th — a meteoric rise that reflects growing institutional appetite for Bitcoin exposure.
The ETF, launched by the world’s largest asset manager, has become a symbol of Bitcoin’s legitimization within traditional finance. It offers institutions a secure and regulated vehicle to gain exposure to BTC without the complexities of direct custody.
This momentum reinforces the idea that the “institutional bull” has truly awakened. The robust inflows indicate long-term confidence in Bitcoin, particularly amid macroeconomic uncertainty and volatility in traditional markets.
Psychological Threshold: $110,000
Having confidently broken past the $100,000 mark, the market is now focused on $110,000 as a new psychological support level. If Bitcoin manages to hold above this zone, analysts predict a potential climb toward $120,000 and beyond, especially if current liquidity and institutional interest persist.
Technical analysis shows mixed signals, suggesting possible consolidation or a short-term correction. However, fundamental indicators remain bullish, including ETF demand, reduced supply pressure, and declining BTC exchange balances.
Google Trends: Retail Investors Not Fully In Yet
Despite the new ATH, Google search interest for “Bitcoin” remains well below the highs seen during the 2021 bull market. This suggests that retail investors are still largely on the sidelines, creating headroom for further growth without entering the euphoric distribution phase.
Historically, retail-driven hype coincides with market tops, when large holders (whales) begin offloading assets. So far, that hasn’t happened — current momentum is primarily institutionally driven and based on strong fundamentals.
99% of BTC Holders Are in Profit
According to on-chain data from Glassnode and other analytics platforms, 99% of all BTC addresses are currently in profit, with the remaining 1% at breakeven. This rare occurrence confirms that nearly all market participants are sitting on historical gains.
This statistic raises a pivotal question: Will this lead to mass profit-taking or mark the start of a new supercycle? The answer may come soon, as the market braces for increased volatility fueled by macroeconomic developments, SEC decisions, and large fund movements.
Bitcoin Pizza Day: A Symbol of Real Value Transition
Pizza Day is a powerful reminder of Bitcoin’s evolution — from a novel experiment in digital money to a globally recognized financial asset. In 2010, 10,000 BTC was worth just $41 and barely taken seriously. Today, it’s worth over $1.1 billion, and Bitcoin is seen as a hedge against inflation, a store of value, and a foundation for new financial instruments.
Pizza Day also reflects a paradigm shift: instead of buying pizza with Bitcoin, many now invest in BTC to afford thousands of pizzas later
Bitcoin stands at a moment of historic strength. A new ATH, surging institutional interest via ETFs, strong on-chain fundamentals, and the lack of retail hype all point to a sustainable bull cycle. Investors are celebrating this Pizza Day with confidence in the future of digital assets — and the market appears poised for its next major phase, perhaps the most significant in crypto history.
