Bitcoin price stayed resilient above $111,500 on Friday, May 23, supported by surging ETF inflows and escalating trade tensions after Trump threatened to

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“If the Fed quietly keeps hitting the QE [quantative easing] button, bitcoin might become the investment equivalent of a midnight convenience-store burrito—volatile but satisfying,” Garcia wrote, adding that others such as pro-bitcoin financial analyst Lyn Alden have played down the significance of the Fed’s bond purchases.

Bitcoin (BTC) price recently hit a new all-time high of $111,800, but the bullish momentum may slow down as onchain data from Glassnode reveals significant profit-taking by short-term holders (STHs),

Bitcoin prices jumped 1.5% Wednesday to an all-time high of $108,671.62. The cryptocurrency has been climbing since a recent low set in early April, when investors were selling all types of risky assets during the height of President Trump's trade war.

Glassnode data shows all wallet cohorts are now accumulating, with options markets pricing in potential upside beyond $200K in June.

Bitcoin hit a new all-time high of $111,970 on May 22, but retraced to $110,700, with analysts noting mixed signals on market overheating. Funding rates and other metrics suggest a “healthy upward phase.”

Both Bitcoin and Ethereum exchange-traded funds this week brought in huge amounts of cash as investors rapidly buy up crypto assets.