Momentum Builds as BTC Posts Highest Daily and Weekly Candle Closes to Date
Bitcoin has closed out its strongest weekly candle in history, continuing a six-week streak of weekly gains and pushing to within a few percentage points of its all-time high.
According to TradingView data, BTC ended the week of May 18 with a close just shy of $106,500, marking its highest-ever weekly close. The previous record was set in late December, when Bitcoin settled around $104,400 before rallying to its all-time high of approximately $109,300 in January.
As of the time of writing, Bitcoin is trading around $104,700, less than 3% off from its peak price and showing continued strength in weekend trading.
Bitcoin Breaks Daily Record Too
Not only did BTC print its strongest weekly candle, but it also set a new daily closing high on May 18, capping a 24-hour period with the highest finish in its history.
“Bitcoin just had its highest daily candle close… ever,” said investor Scott Melker in a May 19 post on X.
Bitcoin just had its highest daily candle close… ever. pic.twitter.com/6qGKYx8VwA
— The Wolf Of All Streets (@scottmelker) May 19, 2025
Crypto analyst Rekt Capital noted that a close above $105,000 would signal a brand-new higher high, adding to the asset’s ongoing bullish momentum.
Bitcoin has already added about $12,000 in May, climbing from the low $90,000 range to just over $106,000 before a minor pullback to around $105,400.
Coinbase Premium Returns, Hinting at U.S. Demand
Institutional buying sentiment also appears to be strengthening. Arete Capital partner McKenna highlighted the return of the Coinbase premium, a metric that measures the price spread between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs.
“The strength of this bid on a Sunday night feels unusual,” McKenna wrote. “Someone may be trading ahead of big news expected next week.”
Historically, the Coinbase premium has been seen as a proxy for U.S.-based institutional demand, particularly during periods of market optimism.
Willy Woo: Bitcoin’s CAGR Will Normalize, But Still Outpace Most Assets
On-chain analyst Willy Woo shared insights on Bitcoin’s compound annual growth rate (CAGR), which he says is gradually declining as the network matures and absorbs more global capital.
“BTC is being traded as the newest macro asset in 150 years,” Woo posted, adding that its growth rate will slow as it nears a capital equilibrium.
Woo estimates that in 15 to 20 years, Bitcoin’s CAGR will normalize to about 8% annually, in line with broader macro trends such as 5% monetary expansion and 3% GDP growth.
“Until then, enjoy the ride,” Woo added, noting that few publicly investable assets can match Bitcoin’s long-term performance even as its growth rate gradually tapers.
Final Thoughts: BTC Price Action Signals Market Strength
With a record weekly close and renewed momentum, Bitcoin appears well-positioned to test or even surpass its January peak in the near future. While macroeconomic concerns and short-term corrections remain on the radar, market sentiment remains firmly bullish.
As Bitcoin continues to evolve from a speculative asset into a macro-level investment, analysts say its performance will likely stabilize over time — but until then, the current cycle may still have more upside left to explore.
