Bitcoin Hits New High Of $111,000 On BTC Pizza Day, Why Is Cryptocurrency Rising?

Last Updated:May 22, 2025, 09:47 IST

Bitcoin Price: This record-breaking surge in Bitcoin’s price coincided with Bitcoin Pizza Day, a day recognised as a pivotal moment in the history of Bitcoin.

Bitcoin breaks all-time record to cross $111,000. (Representative Image/Unsplash)

Bitcoin Price: The popular cryptocurrency Bitcoin has reached a new all-time high, surpassing the $110,000 (Rs 94,79,872.28) mark, following a 3% surge in the last 24 hours. This sharp increase was driven by record ETF inflows and regulatory momentum amidst growing macroeconomic uncertainty.

This record-breaking surge in Bitcoin’s price coincided with Bitcoin Pizza Day, a day recognised as a pivotal moment in the history of Bitcoin. On 22 May 2010, a programmer named Laszlo Hanyecz purchased two large pizzas using 10,000 bitcoins, worth approximately $41 at the time. He made the payment to a user on a Bitcoin forum, who then ordered the pizzas for him in exchange for the cryptocurrency.

Read More: What Is Bitcoin Pizza Day? Here’s Why Crypto Fans Celebrate This Historic Movement

According to CoinMarketCap, Bitcoin rose 4% in the last 24 hours to trade at $111,489. The trade volume surged 77% over the same period, with the market cap reaching $2.21 trillion.

“Bitcoin officially entered uncharted territory, breaking past its previous all-time high and is currently trading above $110,000,” said Ashish Singhal, Co-founder of CoinSwitch. “This isn’t just a milestone for the market—it’s a reflection of how the global perception of digital assets is fundamentally evolving.”

He stated that this rally is fuelled by more than just market momentum; it is supported by consistent inflows into spot Bitcoin ETFs, improving macroeconomic clarity, regulatory support such as the recent introduction of the Genius Act, and a growing recognition of Bitcoin’s credibility, even at the sovereign level.

Edul Patel, Co-founder and CEO of Mudrex argued that the approval of the Stablecoin Bill and easing trade restrictions have significantly improved investor sentiment, helping BTC hit a new ATH just four months after the previous ATH in January.

“Institutional demand remains strong, with spot ETFs seeing $2.2 billion in inflows over the past 10 sessions. Furthermore, CryptoQuant data shows a steady return of retail investors, with smaller wallets re-entering the market, bringing fresh liquidity and signalling broader market confidence,” he added.

Ethereum, XRP Also See Gains

Altcoins like Ethereum, XRP, and many others also benefited from the positive momentum. Ethereum climbed 2% in the past hour to reach $2,645, while XRP gained 0.50% to trade at $2.41.

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