Bitcoin Smashes $111,000 As Record Rally Rolls On — And Retail Traders Can’t Get Enough

Bitcoin (BTC.X), the biggest cryptocurrency by market capitalization, continued its record run on Thursday. It topped $111,000 for the first time before easing off the peak.

On Wednesday, Bitcoin hit a new intraday high of $110,724.46 before settling at a fresh closing high of $109,678.08.

Bitcoin opened Thursday’s session at $109,666.36. So far, it has traded in a range of $109.383.88-$111,746.12.

Bitcoin set a new high (intraday) of $109,114.88 on Jan. 20, coinciding with President Donald Trump’s inauguration, hoping that the president will opt for crypto-friendly policies, boosting the industry.

The rally lost steam, and the crypto dropped below the $80,000 level amid the stock market weakness seen in early March. 

Although Bitcoin staged a recovery, it came under selling pressure yet again, dragged lower by the uncertainties around Trump’s sweeping tariffs announced in early April.

After dropping to a low of $74,436.68 on April 7, Bitcoin began to chart a recovery path and has gained 47% from the low, by Wednesday.

On Stocktwits, retail sentiment toward Bitcoin remained ‘extremely bullish’ (87/100), with the message volume at ‘high’ levels.

A bullish watcher said the crypto will hit $115,000 by the end of May.

Another user saw further run in the crypto to $150,000 before the next bear cycle kicked in.

A third user was more ambitious, eyeing a run toward $250,000 levels.

Some users also praised Bitcoin as an alternative to gold as a monetary store of value. Gold has been among the better-performing assets this year, riding on its safe-haven appeal amid uncertainties.

According to Companies MarketCap, Bitcoin is now the fifth most valued asset after gold, Microsoft, Nvidia, and Apple.

At last check, Bitcoin was at $111,102.78 , up 4.30% over the past 24 hours, according to CoinMarketCap data. The 24-hour volume has jumped about 72%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read Next: CoreWeave Retail Investors Guarded After 170% Rally Takes Stock Past $100: Stocktwits Poll