Bitcoin BTC became the world’s fifth-largest asset after hitting a new all-time high on Wednesday, which pushed its market cap to $2.16 trillion.

Though the crypto’s price consolidated lower after hitting a high of $109,400, its market cap passed Amazon (AMZN), which stands at $2.15 trillion.

Bitcoin is up 16.44% year-to-date while shares of the online retailer are down about 8% over the same period. It is currently trading at $108,954.

Gold is the largest asset, by far, standing at a $22 trillion market cap, followed by Microsoft (MSFT), NVIDIA (NVDA) and Apple (AAPL) which stand at $3.1 trillion to $3.4 trillion respectively.

As a result of the surge in bitcoin’s price since the win of U.S. President Donald Trump, BlackRock’s iShares Bitcoin Trust (IBIT) recently became the fifth-largest exchange-traded fund (ETF) by inflows this year as it took in roughly $9 billion from investors, according to data from Bloomberg senior ETF analyst Eric Balchunas.

Chainlink’s price action demonstrates remarkable resilience amid mixed global economic conditions.

The token has established a well-defined rising channel pattern, with technical indicators supporting continued bullish momentum.

After successfully breaking above the 200-day moving average, LINK has maintained its upward trajectory despite short-term resistance.

Exchange outflows remain consistently negative, with $11.27 million worth of LINK exiting exchanges this week following $55.2 million in outflows last week. This pattern of decreasing exchange balances typically signals investor accumulation rather than selling pressure.

Meanwhile, Chainlink’s technology continues gaining traction in the DeFi sector, with recent integrations including JPMorgan, Ondo Finance, and Solana mainnet.

Analysts project LINK could reach $20 in the near term, with longer-term forecasts suggesting potential growth to $50 by 2028 and $100 by 2030 as adoption of its Cross-Chain Interoperability Protocol (CCIP) expands across the blockchain ecosystem.

Technical Analysis Highlights

• LINK established strong support at $15.60 with high-volume buying emerging at the $15.27-$15.30 zone during the 18-19 hour timeframe on May 20th.
• A significant volume spike (3.08M) during the 11:00 hour on May 21st coincided with LINK testing the $16.24 resistance level.
• The overall trend remains bullish with higher lows forming a clear upward channel.
• LINK demonstrated significant bullish momentum in the last hour, surging from $15.67 to a peak of $15.91, representing a 1.5% gain.
• A notable volume spike occurred at 13:30, catalyzing a sharp upward movement that established a new support level around $15.75.
• The price action formed an ascending channel with higher lows, though some profit-taking emerged near the $15.90 resistance level.
• Final minutes showed consolidation around $15.85, with volume patterns suggesting accumulation rather than distribution.

External References

• «Chainlink Price Prediction: Can Increased Network Adoption Rejuvenate Bullish Momentum for LINK?«, CoinPedia, published May 20, 2025.
• «Chainlink price prediction 2025-2031: A strong buy sentiment for LINK?«, Cryptopolitan, published May 20, 2025.
• «Chainlink In Rally Mode: Rising Channel Formation Signals Continued Climb«, NewsBTC, published May 21, 2025.
• «Chainlink price targets $20 as exchange outflows surge«, crypto.news, published May 21, 2025.

Bitcoin BTC clinched a fresh record price of $109,400, surpassing the peak in January around Donald Trump’s inauguration.

According to the CoinDesk Bitcoin Index, the largest and oldest cryptocurrency hit $109,486 on Wednesday during the early U.S. session. BTC surged more than 46% from its April trough induced by mounting freas over global trade war and U.S. tariffs.

The new all-time high came as spot bitcoin exchange traded funds (ETF) gobbled up $3.6 billion in net inflows in May, a sign of rejuvenated investor interest. A slew of bitcoin-focused treasury companies, including Michael Saylor’s Strategy and newly-launched firm Twenty One Capital added to the buying spree, helping lift BTC to a new record.

Positive regulatory shifts in the U.S. have further supported the market, lending legitimacy of digital assets as an asset class for investors. The U.S. Senate this week advanced a bill to regulate stablecoins while several states and sovereign nations are moving forward with legislation to create bitcoin reserves.

Analysts suggested that the current rally is more sustainable than previous ones, citing favorable financial conditions, stablecoin flows and lack of speculative fervor observed in earlier peaks, showing signs of a stronger foundation.

Read more: These Six Charts Explain Why Bitcoin’s Recent Move to Over $100K May Be More Durable Than January’s Run