Bitcoin reached a new all-time high this week, with prices peaking at $111,944 on May 23 and briefly touching $112,000, according to multiple sources and exchange data. The cryptocurrency had previously set a record of $109,300 in January 2025 and has gained nearly 20% in May alone. The surge was supported by favorable macroeconomic conditions, increased institutional investment, and optimism over regulatory developments in the United States. The U.S. Senate advanced the GENIUS Act, a bill to regulate stablecoins, and the Texas Senate approved legislation allowing the state to hold Bitcoin reserves. At 0930GMT, Bitcoin was priced at $110,840, and the global cryptocurrency market capitalization reached $2.2 trillion. Policy signals from President Donald Trump's administration, including a friendlier regulatory approach to cryptocurrencies, contributed to investor confidence. The easing of trade tensions between the U.S. and China, a weakening U.S. dollar, and Moody's downgrade of U.S. sovereign debt also influenced market sentiment. Institutional participation has increased, with listed companies' Bitcoin holdings rising 31% year-to-date to approximately $349 billion, representing about 15% of total supply. U.S.-listed Bitcoin ETFs attracted $4.2 billion in net inflows so far in May. Strategy (formerly MicroStrategy) filed to raise $2.1 billion to purchase additional Bitcoin. Coinbase was included in the S&P 500 index, and JPMorgan CEO Jamie Dimon announced the bank would allow clients to buy Bitcoin. Other cryptocurrencies, including Ethereum and Solana, also experienced gains, with Ethereum rising around 6% and Solana up about 4% during the same period. Bitcoin traded in a range from $106,680 to $116,000, while the broader market saw increased activity ahead of the upcoming Bitcoin 2025 conference.