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The cryptocurrency market is experiencing a remarkable rally, with Bitcoin ATH at $111,000 for the first time on May 22, 2025, a date that marks the 15th anniversary of Bitcoin Pizza Day. This milestone and growing institutional interest have ignited bullish sentiment across major cryptocurrencies, including Ethereum, Solana, and XRP.
Bitcoin Outranks Amazon, Becomes 5th Largest Global Asset by Market Cap
On May 22, 2025, Bitcoin BTC achieved a historic milestone, surpassing $111,000 to set a new all-time high. This surge coincides with Bitcoin Pizza Day, commemorating the first real-world Bitcoin transaction in 2010, when 10,000 BTC were exchanged for two pizzas. The symbolic date has amplified market enthusiasm, with Bitcoin gaining 7.3% over the past 7 days.
Source: TradingView
The total cryptocurrency market capitalization reached $3.6 trillion, with Bitcoin’s dominance at 61.1%, underscoring its central role in driving market sentiment.
Ethereum ETH also posted gains, trading at $2,600, up 40.7% over the past 14 days. Ethereum’s DeFi ecosystem is thriving, with platforms like Uniswap and Aave experiencing increased activity due to lower gas fees, enhancing accessibility. This trend is fueling renewed interest in Ethereum-based decentralized applications, bolstering their market resilience and growth potential.
Solana SOL rose to $175, a 16.5% increase over 14 days, driven by excitement surrounding the upcoming second-generation Seeker device, which has secured over $67.5 million in pre-orders. The Solana community is eagerly anticipating the Alpenglow proposal, a game-changing upgrade expected to enhance network performance and scalability, further boosting investor confidence and sustaining Solana’s strong market momentum.
XRP, a top performer, climbed 10.7% over the past 14 days to $2.40. The recent launch of XRP futures has sparked optimism for a potential spot XRP ETF, which could increase liquidity and attract institutional investors, further propelling XRP’s upward trajectory.
Learn more: Is XRP a Good Investment in 2025? A Comprehensive Guide for Investors
Other major cryptocurrencies, including BNB, Cardano, and Dogecoin, also recorded solid gains, reflecting broad market optimism.
Source: Coin360
In the last 24 hours, over $522 million worth of leveraged positions have been liquidated, 63% of which are in short. The largest single liquidation order happened on Bybit with the BTCUSDT pair, value of $6.36 million.
Source: CoinGlass
Bitcoin’s historic ATH marks a significant milestone, as it overtakes Amazon to become the 5th largest asset globally by market capitalization. With a market cap of $2.17 trillion, Bitcoin surpasses Amazon’s $2.07 trillion valuation, cementing its status as a global financial powerhouse.
Source: Companies Marketcap
Strong Bets by Institutions and Whales Push Bitcoin to All-Time High
Bitcoin ATH at $111,000 appears driven by strategic moves from institutional investors and large crypto whales, who seem to have anticipated favorable market developments.
Spot Bitcoin ETFs have seen record inflows of nearly $7 billion since April, reflecting robust institutional confidence in Bitcoin as a long-term store of value. This surge in ETF investments, particularly through vehicles like BlackRock’s iShares Bitcoin Trust (IBIT), which manages over $56 billion in assets, underscores Bitcoin’s growing legitimacy among traditional finance players.
Additionally, JPMorgan’s shift in stance, with a $1.7 billion investment in Bitcoin ETFs, signals a broader institutional embrace, further fueling bullish sentiment.
Meanwhile, three Hyperliquid whales placed $1 billion in 40x leveraged long positions on Bitcoin, a bold bet highlighting their strong belief in an imminent price breakout, potentially driven by insider knowledge or market trends.
Moreover, another whale has joined the betting club, entered a 900 BTC ($99.67 million) position at $110,130.5, has an unrealized profit of approximately $1.3 million, with a liquidation price of $95,959.
Source: Hyperliquid
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