Bitcoin Achieves Record Weekly Close

The leading cryptocurrency concluded the week at a record $106,500, nearing its all-time high, though by Monday the asset had fallen to $102,000.

The previous peak weekly close was $104,400 in December 2024. At the time of writing, Bitcoin is trading around $102,611 (-0.9% over the past 24 hours), according to CoinGecko.

On May 18, the asset also set a record daily close, although the day’s growth was not the most significant in history.

For the first time, Bitcoin closed the daily candle at $106,500, noted crypto trader Scott Melker.

Bitcoin just had its highest daily candle close… ever. pic.twitter.com/6qGKYx8VwA

— The Wolf Of All Streets (@scottmelker) May 19, 2025

Analyst Rekt Capital added: closing above $105,000 will form a “new high.”

#BTC Daily Close above ~$105000 and Bitcoin will develop a brand new Higher High$BTC #Crypto #Bitcoin

— Rekt Capital (@rektcapital) May 18, 2025

The current six-week growth streak is reminiscent of the rally in November 2024, when Bitcoin gained $30,000 in less than a month. In May 2025, the price rose from $94,000 to $106,000.

Arete Capital partner, known as McKenna, noted the return of the “Coinbase premium”—an indicator of U.S. demand.

Coinbase premium is back. Strength of this bid on a Sunday night feels strange.

Possible someone knows some important news dropping next week.$BTC pic.twitter.com/ZvgKT9tuXI

— McKenna (@Crypto_McKenna) May 19, 2025

“The strong growth on a Sunday evening looks unusual. Perhaps market participants are expecting important news,” he suggested.

Analyst Willy Woo linked the slowdown in Bitcoin’s annual growth rate (CAGR) to the increase in network capitalization.

People think BTC is like a magical unicorn that climbs to infinity on moonbeams. Here’s the actual CAGR chart. We are well past the 2017 year where we’d see many 100s of percent growth.

Now look at 2020, that was the year BTC got institutionalised, corporations and sovereigns… pic.twitter.com/hcGAGZXkU5

— Willy Woo (@woonomic) May 18, 2025

“Bitcoin has become a macro asset: it will attract capital until it reaches equilibrium. In 15-20 years, growth will stabilize at 8% per year,” the expert stated.

In his view, even amid a declining CAGR, digital gold will remain the most profitable instrument for long-term investors.

On May 12, the price of the leading cryptocurrency momentarily rose to $105,700 amid a U.S.-China trade deal.