Bitcoin breaks through the 110,000 USD mark, Newbit helps users seize the opportunity in the encryption bull run.
On May 22, Bitcoin surged past $110,000 per coin, setting a new all-time high with an increase of nearly 3% within 24 hours. The total market capitalization surpassed $2.1 trillion, rising to fifth place in the global asset market capitalization rankings, behind only gold, Microsoft, Nvidia, and Apple. This milestone breakthrough not only marks a comprehensive return of market confidence but also announces the official start of a new round of encryption bull run.
Since the correction in April due to fluctuations in the global trade situation, Bitcoin has rebounded strongly from $75,000, with a cumulative rise of up to 47%, and an overall increase of 17.5% for the year, further highlighting its unique financial positioning as “digital gold.”
Who is driving Bitcoin to a new historical high?
The recent Bitcoin breakthrough of $110,000 is driven by the following seven core factors:
- Hong Kong officially implements stablecoin regulation
On May 21, the Hong Kong Legislative Council passed the Stablecoin Bill in the third reading, introducing a licensing system for stablecoins. This policy lays the institutional foundation for Hong Kong to build a global Web3 and digital asset hub, and releases a positive signal for the Asian market.
- The U.S. “GENIUS Act” advances
The Senate passed a key bill to introduce a federal regulatory framework for stablecoins, allowing large banks to issue and widely use stablecoins, which could drive the market to $2.5 trillion. The move is seen as the most important regulatory tailwind after the Bitcoin spot ETF.
- The “three kills” of U.S. stocks, U.S. bonds, and the U.S. dollar trigger a risk-off wave
The US dollar, US Treasury yields, and stock markets are all declining simultaneously, triggering a rise in global risk aversion and driving funds into decentralized assets such as Bitcoin.
- Texas plans to establish a Bitcoin strategic reserve
After the passage of the SB21 bill, Texas is expected to become the second state in the United States to establish Bitcoin reserves, with local government recognition of BTC continuously rising.
- The easing of China-US trade relations
The joint statement announced a 90-day suspension of tariffs imposed on the US and the cancellation of several non-tariff countermeasures, eliminating macroeconomic uncertainties for the market and boosting investor confidence.
- The Russia-Ukraine ceasefire negotiations send a signal of peace.
Both parties expressed positive statements on “any form of negotiation” to ease major global geopolitical conflicts and guide market sentiment to recover.
- “Trump Coin” dinner ignites emotional hotspot
ON MAY 23, TRUMP WILL HOST A PRIVATE DINNER WITH THE TOP 220 TRUMP COIN WINNERS. This event attracted widespread attention and indirectly stimulated the market’s interest and discussion of crypto assets.
At the same time, the “Fear and Greed Index” of the crypto market is currently at 72, which is in the “greedy” zone, showing a significant rebound in speculative enthusiasm and capital activity. Although it is slightly lower than the 84 high set at the beginning of the year after Trump took office, the overall confidence has been significantly restored, providing further upward momentum for the short-term market.
It is worth mentioning that May 22 is also the “Bitcoin Pizza Festival” commemorated by the global crypto community. In 2010, programmer Laszlo used 10,000 bitcoins to buy two pizzas, a transaction worth more than $1.1 billion, and has become a landmark event for bitcoin to move from an experiment to a real economy.
In the continuous evolution of the crypto industry, platform coins are becoming an important hub for connecting products, users, and value. NB (NewbitToken) is the core token of the Newbit ecosystem, which is widely used in platform construction, user incentives, payment and settlement, and community governance, throughout the entire ecosystem.
The issuance and application mechanism of NB has constructed a stable, efficient, and sustainable Web3 token economy system, with its incentive system revolving around four core values:
Anchor real value: bind platform products, services, and asset scenarios to ensure the intrinsic value of the token;
Drive user behavior: Encourage users to actively participate through consumption, promotion, governance, and other aspects;
Regulating supply and demand: flexibly adjusting the circulation rhythm to adapt to market and ecological development;
Support long-term governance: As the governance token of future DAOs, it promotes open co-governance and consensus building.
As the Newbit ecosystem continues to grow, NB is not only the core engine for the efficient operation of the platform but also the key pass for users to access the Web3 world.
As a one-stop digital asset service platform, Newbit is committed to creating a professional, safe and efficient trading environment for global users. Whether you are new to the crypto market or an institutional investor looking for deep participation, Newbit can provide customized services and strategic support to help you accurately position and seize opportunities in the bull market.
A new round of market has arrived, seize the opportunity, and embark from Newbit!
About Newbit
Newbit was established in 2019, headquartered in Singapore, and received $100 million in support from top blockchain investment institutions. The core team members come from leading global technology and financial companies, including Wall Street, Silicon Valley, Tencent, and Citibank, with rich blockchain experience distributed across Singapore, Taiwan, Dubai, and other locations.
Newbit is committed to providing a safe, fair and open trading platform for global digital asset users, covering a full range of solutions for fiat currency and digital asset trading. With strong technical strength and mature products, Newbit will continue to deepen the crypto ecosystem, promote industry transformation with innovative technologies, and help users achieve wealth growth.