Bitcoin registered its strongest ever weekly finish at just under $106,500, marking six straight weeks of gains for the benchmark cryptocurrency.
The milestone leaves the price less than 3 % shy of January’s record peak at $109,358 and follows a fresh record daily close set on May 18.
Momentum builds into new week
Bullish energy gathered over the weekend as traders digested the technical feat, with prices hovering near $105,000 in early Monday dealings.
Investor Scott Melker declared, “Bitcoin just had its highest daily candle close… ever,” underscoring the psychological impact of the milestone.
Analyst Rekt Capital added, “Bitcoin will develop a brand new higher high,” should the asset hold above $105,000 in coming sessions.
On-chain data also showed the revival of the “Coinbase premium,” a sign that United States buyers are again paying above-average prices and helping drive momentum.
Accelerating gains echo late-2024 surge
The latest six-week streak mirrors November’s burst, when Bitcoin rose roughly $30,000 over three outsized weekly candles and paved the way for January’s record.
So far in May the coin has added around $12,000, jumping from $94,000 to an intra-week high above $106,000 before a modest pullback.
Market watchers note that each successive close above key resistance tightens the range to the all-time high and raises odds of a fresh breakout.
Growth rate cools as asset matures
Notably, analyst Willy Woo observed that Bitcoin’s compound annual growth rate has begun to cool as the network absorbs ever larger sums of capital.
He argued the asset will eventually settle into an 8 % long-run expansion rate, still outpacing most traditional investments but reflecting a maturing macro asset.
That slower trajectory has not deterred corporate treasuries or institutional desks, which continue to accumulate exposure as inflation hedges and store-of-value plays.
Traders will watch macro catalysts this week, including Wednesday’s Federal Reserve minutes and any policy hints that could influence Treasury yields and dollar direction.
Short-term, the technical picture remains constructive so long as Bitcoin stays above $102,000, with many eyeing $107,000 as the final barrier before price discovery resumes.