Bitcoin has surged close to its all-time high this week, reaching above $112,000 on certain exchanges. While some data providers such as TradingView and Coinbase recorded a new peak slightly above May’s previous high, aggregators including Coinmarketcap and Coingecko have not updated their records to confirm an official ATH. This discrepancy is due to how each platform calculates and aggregates prices globally.
Conflicting Reports on ATH
On Coinbase, Bitcoin briefly traded at around $112,050 before retracting slightly. TradingView also showed similar figures. However, Coinmarketcap and Coingecko – the two largest crypto aggregators – continue to show the May ATH of approximately $111,900 as the standing record.
This indicates that while Bitcoin did spike above its previous high on some exchanges, the move was either not sustained or not broad enough across markets to count as a confirmed all-time high in aggregated data.
Factors Behind the Price Increase
Several factors are contributing to Bitcoin’s current rise. One of the main drivers is continued institutional and corporate demand. Companies such as The Smarter Web Company in the UK have announced new Bitcoin purchases, adding hundreds of BTC to their balance sheets. At the same time, spot Bitcoin ETFs are seeing steady inflows, indicating that institutional interest remains strong.
Another contributing factor is the recent wave of short position liquidations. As Bitcoin’s price moved upward, traders who had bet against the cryptocurrency were forced to close their positions, adding further momentum to the rally.
Additionally, part of Bitcoin’s gains is linked to a weakening US dollar. The dollar index (DXY) has fallen in recent months, and a weaker dollar tends to support Bitcoin’s price.
Read also: Is Bitcoin Really Near Its ATH – Or Is the Dollar Just Weak?
Market Context
Bitcoin’s market capitalisation now exceeds $2.2 trillion, and 24-hour trading volumes have risen above $55 billion. If current momentum continues, a confirmed ATH could be reached soon. However, some part of the current rally is due to dollar depreciation rather than purely increased crypto demand.
Still, Bitcoin remains within striking distance of a new record high, with market participants closely watching exchange data to determine whether a new official ATH will be set in the coming days.
