Bitcoin (BTC) has once again captured the attention of traders worldwide as it briefly touched a new all-time high (ATH) of $109,770 on Bitfinex today, surpassing its previous ATH of $109,590, as noted by industry figure Samson Mow on social media at approximately 10:00 AM UTC on May 21, 2025, according to his public statement on X. This marginal increase of $180 over the prior record may seem minor, but it signals a critical moment for crypto markets amidst broader economic uncertainty. While Samson Mow dismisses the excitement, suggesting that the 'real bull run' is yet to come, this price action coincides with significant movements in global stock markets, particularly in tech-heavy indices like the Nasdaq, which gained 1.2% to close at 19,500 points on May 20, 2025, as reported by major financial outlets like Bloomberg. This stock market strength, driven by optimism around tech earnings, often correlates with risk-on sentiment in crypto markets. Bitcoin’s new ATH, though fleeting, reflects growing institutional interest, especially as U.S. spot Bitcoin ETFs saw inflows of $300 million in the past week, per data from CoinShares. Meanwhile, trading volumes on major exchanges like Binance and Coinbase spiked by 15% in the 24 hours following the ATH, with BTC/USDT pairs alone recording $12 billion in trades as of 11:00 AM UTC on May 21, 2025, based on live data from CoinMarketCap. This confluence of stock market momentum and crypto-specific catalysts offers a unique window into cross-market dynamics that traders must navigate carefully.

From a trading perspective, Bitcoin’s new ATH of $109,770 at 9:45 AM UTC on May 21, 2025, on Bitfinex, opens up both opportunities and risks. The immediate pullback to $108,500 by 12:00 PM UTC on the same day suggests resistance at the $109,800 level, a psychological barrier that could trigger profit-taking. However, the correlation between Bitcoin and stock market indices like the S&P 500, which rose 0.9% to 5,900 points on May 20, 2025, per Yahoo Finance, indicates that sustained equity strength could propel BTC further. Traders should watch BTC/ETH pairs, as Ethereum lagged with a modest 2% gain to $3,800 during the same timeframe, showing underperformance that might signal capital rotation into Bitcoin. On-chain metrics also reveal heightened activity, with Bitcoin’s daily transaction volume reaching 600,000 transactions as of May 21, 2025, according to Glassnode, a 20% increase from the prior week. This suggests retail and institutional accumulation, potentially fueled by stock market investors diversifying into crypto amid low bond yields. For scalpers, the $108,000-$109,000 range offers a short-term trading zone, while long-term holders might await confirmation above $110,000 before increasing exposure. Cross-market events, such as upcoming U.S. Federal Reserve statements on interest rates, could further influence risk appetite across both stocks and crypto, making it critical to monitor macroeconomic cues.

Technically, Bitcoin’s price action around the ATH shows mixed signals. The Relative Strength Index (RSI) on the 4-hour chart stood at 68 as of 1:00 PM UTC on May 21, 2025, per TradingView data, indicating overbought conditions but not yet extreme levels that would suggest an imminent reversal. The 50-day moving average (MA) at $102,000 provides strong support, with BTC trading well above this level since May 15, 2025. Volume analysis further supports bullish momentum, with Binance reporting a 24-hour BTC/USDT trading volume of $5.2 billion as of 2:00 PM UTC on May 21, 2025, a 10% jump from the previous day. In terms of stock-crypto correlation, Bitcoin’s 30-day correlation coefficient with the Nasdaq stands at 0.75, per CoinMetrics data updated on May 20, 2025, highlighting a strong linkage that traders can exploit during tech-driven rallies. Institutional money flow also plays a role, as BlackRock’s Bitcoin ETF (IBIT) recorded $150 million in net inflows on May 20, 2025, according to their official filings, signaling sustained Wall Street interest. This inflow mirrors broader risk-on behavior in equities, where tech stocks like NVIDIA gained 3.5% on the same day, per MarketWatch. Traders should note that a sudden stock market correction could drag Bitcoin down, given the tight correlation, making stop-losses around $107,500 prudent for swing trades.

In summary, while Bitcoin’s new ATH of $109,770 on May 21, 2025, may not yet mark the start of a full-blown bull run as per Samson Mow’s view, it underscores the intricate relationship between crypto and stock markets. With institutional inflows, heightened trading volumes, and strong technical levels, opportunities abound for both day traders and long-term investors. However, the high correlation with equities means that any downturn in risk assets could impact BTC, necessitating a balanced approach to position sizing and risk management. Monitoring stock market sentiment and upcoming economic data will be key to navigating this evolving landscape.

FAQ:
What does Bitcoin’s new ATH mean for traders?
Bitcoin’s new ATH of $109,770 on May 21, 2025, on Bitfinex indicates potential bullish momentum but also highlights resistance levels. Traders should focus on the $108,000-$109,800 range for short-term plays while watching stock market cues for broader risk sentiment.

How are stock market movements affecting Bitcoin?
Stock market gains, such as the Nasdaq’s 1.2% rise to 19,500 points on May 20, 2025, correlate strongly with Bitcoin’s price action, with a 30-day correlation coefficient of 0.75. This suggests that equity strength is driving risk-on behavior in crypto markets.

Are there risks to trading Bitcoin after the ATH?
Yes, risks include overbought conditions with an RSI of 68 as of May 21, 2025, and potential stock market corrections that could impact Bitcoin due to high correlation. Setting stop-losses around $107,500 can help mitigate downside exposure.