Bitcoin Price recorded a big finish in May 2025, hitting a high of $104,591 in a month. Better yet, it reached an incredible high of $111,980. It completely destroyed previous records and made clear what top performers of the year. Now that history has been made, everyone is looking for what will come next.
The chart speaks for itself. After dropping the $70,000 to $90,000 range earlier this year, BTC was convicted in the second quarter and never looked back. The $100,000 level was once considered a speculative milestone, but now it is the foundation of the market structure.
The $104,000 to $106,000 range now looks like short-term support. The cap is $111,980. As we head towards June, we will have to wait for it to hold on or give way.
I find macro signals difficult to see what’s going on. Trade policy from the US was a bit of a hot topic in May after proposing a major obligation on EU goods. The move has been slow and faced several legal challenges, but the new date on July 9 is now considered a possible market trigger. Depending on how that happens, it could strengthen Bitcoin (BTC) or put pressure on risky assets.
If you look closely, you can see that on-chain metrics still indicate activity. Last month, we saw almost 18,800 large BTC transactions. It’s worth $100,000 each. That’s the most since January. More and more Bitcoin is leaving the exchange, exceeding 147,000 BTC since the start of the year.