Bitcoin Sees Highest Weekly Close

Bitcoin nearly reached another all-time high, trading above $106,000 during early Asian hours on Monday.

At midnight UTC on May 18, it achieved its strongest weekly close yet, just below $106,500, according to Coingecko. Bitcoin has experienced weekly gains for six consecutive weeks, driven by bullish market sentiment.

In December, Bitcoin posted a record weekly gain, surpassing $104,400, and later reached an all-time high of $108,786 on January 20, according to TradingView.

Currently, Bitcoin trades at $103,500, up 10% over the past week and 21% over the past month. Unlike previous rallies fueled by retail speculation, the current surge is largely driven by consistent spot ETF inflows and macroeconomic factors.

With uncertainties surrounding inflation, tariff deals, and major economic issues, investors may be turning to Bitcoin and gold as safe havens.