BTC Climbs 3.7%: Limited Sell-off Sparks Curiosity in Crypto Markets

Bitcoin Soars Near All-time High, Analysts See No mania Yet

Bitcoin (BTC) soared near its all-time high on May 21, with prices hovering around $110,300. The cryptocurrency outpaced the Dow Jones Industrial Average, showing strong market control.

Despite the surge, analysts note thereS no significant profit-taking. CryptoQuant’s Crypto Dan says overheating indicators are low. “Funding rates and short-term capital inflow remain mild compared to past peaks,” he explained.

Alex Wacy, a crypto analyst, agrees. He tweeted that while BTC hits new highs, there’s no mania. “Google searches are quiet, and retail investors aren’t rushing in yet,” Wacy noted. He believes the broader public will follow the price trend later.

With the global M2 money supply at over $22 trillion, there’s more money in the system than ever. But it’s not backed by increased productivity. This could fuel further Bitcoin growth.

Michael Saylor believes buying BTC at the top could still be profitable long-term. A whale who bought 30,000 ETH and 600 BTC in April sold all ETH but kept the BTC. The Bitcoin is now worth over $66.5 million.

Analysts forecast Bitcoin could reach $150k or higher in 2025. The confidence in BTC’s upward trend is evident as investors continue to hold onto thier Bitcoin.