Top Stories

Bitcoin surged to a record high on Wednesday, climbing to roughly $109,500 during late-morning U.S. trading and eclipsing its previous peak of $108,786 set in January. The move capped a 13-day streak above the six-figure mark and put the world’s largest cryptocurrency about 1% shy of the psychologically important $110,000 level. The rally gathered momentum after the U.S. Senate advanced a bill to create a regulatory framework for dollar-pegged stablecoins, a step investors interpreted as a sign that clearer rules for digital assets are likely under the Trump administration. Optimism over regulatory clarity helped Bitcoin add about 4.4% in the past 24 hours and roughly 23% so far in May. At its intraday high, Bitcoin’s market value swelled to nearly $2.17 trillion, briefly vaulting the token past Amazon to become the world’s fifth-largest asset, according to Glassnode data. The rapid rise triggered broad market shake-outs: price-tracker WuBlockchain estimated that more than 99,000 traders saw positions liquidated, with total forced closures topping $300 million, including roughly $200 million in short bets. With Bitcoin establishing a fresh all-time high less than four months after its last record, market participants now look to the bill’s progress in the House and broader macro conditions for clues on whether the rally can extend beyond the $110,000 threshold.