Bitcoin hit a new all-time high of almost $112,000 on Thursday, May 22, propelled by a 4% daily gain. This surge follows Wednesday’s peak of $109,500 and marks a period of substantial price discovery. The market capitalization now stands at $3.6 trillion, although it still lags behind its peak of $3.9 trillion in mid-December. While altcoins show signs of weakness, institutions are driving Bitcoin’s momentum. 6 consecutive trading days of over $2 billion inflows into US spot exchange-traded funds and aggressive buying by corporations like Michael Saylor’s Strategy and Metaplanet contribute to this upward trend. Jeff Walton of Digital Capital Strategists has also been a notable buyer, accumulating 324,000 BTC in the last eight months, a move that puts his holdings ahead of all other publicly known Bitcoin companies. While retail sentiment remains subdued amid economic uncertainty, macroeconomic concerns, and declining social sentiment, the asset continues to see strong institutional support, with experts predicting potential further growth. On this day’s significance, Bitcoin Pizza Day marks 15 years since programmer Laszlo Hanyecz’s pioneering pizza purchase for 10,000 BTC in 2009. The initial investment would be worth over $1 billion today, highlighting the asset’s dramatic rise and influence.