Bitcoin Surpasses 107K This Morning, Just 2.4% Away from January’s Historic High of 109,588
Bitcoin briefly surpassed 107K this morning, needing just a 2.4% increase to reach January’s historic high of 109,588. Michael Saylor, founder of MicroStrategy and a long-time believer in Bitcoin, posted on X urging: “The digital gold rush will end on January 7, 2035. Get your Bitcoin before there is no Bitcoin left for you!”
Bitcoin Transaction Fees Rise to Yearly High
According to data from The Block, since early May, the 7-day moving average transaction fee for Bitcoin has increased by approximately $1, reaching $2.40, marking the highest record for 2025 thus far. Bitcoin’s dominance, after a pullback two weeks ago, has also increased, which may indicate that the decline in Bitcoin’s value relative to other parts of the cryptocurrency market is liquidity-driven, rather than a significant shift towards “altcoin season.”
However, the daily average transaction volume has decreased, dropping 35% from a peak of 507,000 on April 22 to 330,000 now. The illiquid supply of Bitcoin has recently reached an all-time high, and a decrease in supply suggests that an increase in demand could trigger a supply shock, further driving prices up.
Bitcoin Short Positions Liquidated Again
According to Coinglass data, over the past 4 hours, $49.25 million in Bitcoin positions were liquidated, with Ethereum seeing $35.96 million, mostly from short positions.
Michael Saylor: Get Your BTC Before It’s Gone
Michael Saylor, founder of MicroStrategy and a long-time believer in Bitcoin, reiterated on X: “The digital gold rush will end on January 7, 2035. Get your Bitcoin before there is no Bitcoin left for you!”
The digital gold rush ends ~January 7, 2035. Get your Bitcoin before there is no Bitcoin left for you. — Michael Saylor (@saylor) May 18, 2025
Risk Warning
Investing in cryptocurrency carries a high level of risk, and its prices can be highly volatile; you may lose your entire principal. Please assess risks carefully.