Global Financial Markets Achieve Major Breakthrough!
According to the latest data from CoinMarketCap, the price of Bitcoin (BTC) surged rapidly in the early hours of the 22nd, breaking through the $111,861 barrier for the first time, setting a new historical high with a daily increase of over 3%! This surge brought Bitcoin’s market capitalization to $2.21 trillion, surpassing Amazon and Google, officially making it the fifth-largest asset globally, only behind gold, Apple, Microsoft, and NVIDIA. Peng Yunxian, founder of the Taiwanese cryptocurrency exchange HOYA BIT, conducted an in-depth analysis, indicating that the significant rise in Bitcoin is not only driven by market sentiment but also reflects multiple macroeconomic factors and structural changes in the market.
Celebrating this Major Milestone
To celebrate this milestone, the Taiwanese cryptocurrency exchange HOYA BIT will host a special “Bitcoin Pizza Day Exchange Luncheon” on May 23. The origin of Pizza Day dates back to 2010 when a programmer exchanged 10,000 Bitcoins for two pizzas, completing the world’s first real transaction using Bitcoin. At that time, the Bitcoin was worth approximately 1,300 New Taiwan Dollars, which has now exceeded 30 billion New Taiwan Dollars. This historical event highlights the enormous potential for the revaluation of digital assets. On the day of the event, industry experts and cryptocurrency enthusiasts will be invited for in-depth discussions.
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Peng Yunxian In-Depth Analysis: Four Factors Driving Bitcoin’s Surge
Peng Yunxian, founder of the Taiwanese cryptocurrency exchange HOYA BIT, analyzed that there are four main reasons for Bitcoin’s new high. First, the recent clarification of the regulatory environment in the United States, with the U.S. Senate accelerating the advancement of the “Stablecoin Bill,” which aims to provide a clear legal framework for the issuance and operation of stablecoins, ensuring reliable exchangeability with the U.S. dollar and enhancing market transparency and security. The progress of this bill has led the market to believe that U.S. cryptocurrency regulation will move in a more favorable direction, significantly boosting investor confidence. Second, the downgrade of the U.S. sovereign credit rating by Moody’s (one of the three major credit rating agencies in the U.S.) has increased the demand for safe-haven assets, with cryptocurrency assets, including Bitcoin, once again favored by the market. Furthermore, the ongoing uncertainty in the global economy under Trump’s policies and increased volatility in traditional financial markets are prompting institutional investors to actively allocate digital assets to diversify risks. Finally, the continuous decline in Bitcoin reserves on global exchanges indicates that a large number of investors are transferring Bitcoin to cold wallets for long-term holding, tightening market liquidity and benefiting further price increases.
Market Predictions Differ: What is Bitcoin’s Ceiling?
In the face of this strong upward momentum, experts and institutions have provided varied price predictions. Gerry O’Shea, head of Hashdex Asset Management, believes that Bitcoin is becoming a mainstream tool for asset diversification among governments and corporate institutions, and this trend is expected to continue supporting price increases. Standard Chartered predicts that the price of Bitcoin could reach $120,000 within the second quarter, while more aggressive market options trading indicates that some seasoned investors are even betting that Bitcoin could soar to $300,000 by the end of June. The cryptocurrency analysis platform CoinCodex points out that Bitcoin’s average price this year could reach $145,646, with peaks potentially hitting $179,691. On the other hand, the investment institution InvestingHaven has a more cautious forecast, estimating that Bitcoin’s price will fluctuate between $80,410 and $151,150 in 2025, highlighting the diversity and uncertainty in market price predictions. Additionally, the recent promotion of five major cryptocurrency reserve assets by the Trump administration, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA), has also shown a clear upward trend in prices, reflecting the overall optimistic sentiment towards digital assets.
In response, Peng Yunxian from HOYA BIT stated, “Considering the recent market environment and macroeconomic factors, these predictions indeed have the potential to materialize. Especially with the continuous improvement in the regulatory environment, the influx of institutional funds, and the significant reduction in exchange reserves, all of which provide strong support for the sustained rise in prices. However, investors must also remember that the current market sentiment has reached a relatively high point, and the possibility of short-term adjustments cannot be ignored; risk management must be taken seriously.”
Technical Analysis: Short-Term Overbought May Induce Adjustment Pressure
Bitcoin’s price has been robust, maintaining above $100,000 for several days. However, from a technical indicator perspective, Bitcoin’s Relative Strength Index (RSI) has clearly entered the overbought zone, indicating a higher risk of technical correction in the short term. Furthermore, based on recent trading volume analysis, there is significant technical pressure within the $111,000 to $112,000 range; if it cannot effectively stabilize in this range over the next three days, it may test support levels around $105,000. Peng Yunxian advises investors to closely monitor these key price levels, ensuring proper risk management and adjustments to trading strategies. She emphasizes, “Bitcoin, as a high-value asset with long-term potential, facing short-term corrections is entirely normal; investors should not panic due to temporary FOMO.”
Three Key Market Variables Investors Should Closely Monitor
The current market is booming but also carries significant risks. What market indicators can investors focus on? Peng Yunxian from HOYA BIT points out that there are three major factors to watch: First, the Federal Reserve’s (FED) decisions regarding future interest rate policies, which will affect global liquidity; second, the specific progress of the U.S. stablecoin bill, which will directly impact the regulatory environment and market confidence; third, changes in the regulatory attitudes of major global economies towards cryptocurrencies, which may lead to significant fluctuations in market sentiment. Peng Yunxian summarizes that investors should not only observe these policy and economic dynamics but also avoid blindly chasing prices, ensuring diversified asset allocation and risk management to mitigate risks arising from short-term market fluctuations.