While people in the crypto space celebrated Bitcoin Pizza Day, the crypto king price shot up, hitting a new all-time high of $111,889. Bitcoin’s market capitalization also climbed to $2.205 trillion, surpassing Amazon in value.
According to Infinite Market Cap, Bitcoin is the fifth largest asset globally. The first four places are reserved for Gold, Microsoft, Nvidia, and Apple, with market capitalizations of $22.051 trillion, $22.051 trillion, $3.243 trillion, and $3.007 trillion, respectively.
On May 18, Arthur Hayes told Fortune, “I think Bitcoin needs to go above $110 K and increasing volumes reach $150 K–$200 K. I think that happens sometimes in the summer or early third quarter.”
The markets acted fast. Today, Bitcoin has surged to a new all-time high of $111,889 on Coinbase. CoinGecko shows that the highest aggregated BTC price is $111,512. BTC’s price has dipped and it’s currently standing at $110,826.
Bitcoin options Open Interest hits a new all-time high of $45.8 billion
Data from CoinGlass showed that Bitcoin Options open interest (OI) rate has risen to a new level of over $45.8 billion. The demand for BTC options has surged due to the new price point of the crypto king. BTC options OI accounted for 84% of the total cryptocurrency market.
Ethereum (ETH) options have also soared to more than $8 billion. The overall options open interest rate (OI) for BTC and ETH has hit a new all-time high of over $53.8 billion, the highest ever since December of last year.
In the derivatives markets, BTC’s open interest rate on perpetual-swap is at $34.9 billion. Futures-contract open interest for BTC is standing at $2.2 billion.
On the other hand, Bitcoin exchange-traded funds or ETFs have seen massive inflows of +607.10 million yesterday. A total of $530.6 million went into BlackRock’s iShares Bitcoin Trust (IBIT).
Yesterday, the founder of Strategy, Michael Saylor, said on his X account, “If you’re not buying Bitcoin at the all-time high, you’re leaving money on the table.” Today, Anthony Pompliano, aka POMP, wrote on X that “Bitcoin is working as designed.”
Today isn’t just special because Bitcoin hit a new record but also because it’s Bitcoin Pizza Day. On May 22, 2010, Laszlo Hanyecz made the first real-world purchase with Bitcoin when he bought two Papa John’s pizzas for 10,000 BTC.
At Bitcoin’s all-time high of $111,889, those pizzas would today be worth over $1.1 billion—proof of how far the network has come. Each year, the community celebrates with pizza parties and Lightning Network demos to honor that moment when Bitcoin became money in practice.
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