After reaching a record high of US$111,000 last Thursday, analysts project Bitcoin’s next resistance level at $130,000 as the cryptocurrency continues to evolve from a speculative asset to a “strategic pillar” of the modern economy.
According to a report by Bitkub Exchange, Bitcoin’s transformation is accelerating as increasing institutional investments, sovereign adoption, and macroeconomic trends position it as a foundational component of global finance.
With a net inflow of $19 billion in April, forecasts suggest Bitcoin could hit $130,000 later this year. The digital currency, the largest by market capitalization, has risen 17.5% so far this year and has recovered more than 47% since dropping to $75,000 on April 7—a decline triggered by US President Donald Trump’s tariff announcements, which caused global market shocks.
Merkle Capital, a SEC-regulated digital asset advisory, noted, “Bitcoin has undergone a significant transformation in the past quarter, shifting from a volatile speculative asset to a maturing store of value with increasing importance within the global economic system.”
Structural headwinds—such as institutional backing, sovereign interest, and capital market momentum—are fueling renewed attention. Bitcoin’s price has stabilized after a 26% contraction from around $109,000 in January, and by May, it had rebounded to $100,000.
During recent US tax policy turbulence, Bitcoin’s independence from traditional safe-haven assets like gold and the S&P 500 became evident, as its correlation with these assets declined, reinforcing its status as a distinct store of value.
With persistent global inflation pressures, Bitcoin’s characteristics—algorithmic scarcity, decentralization, and transparency—are making it increasingly attractive as an inflation hedge. Institutional demand is growing, particularly via spot Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust managing over $51 billion and experiencing continuous inflows for over two weeks.
States like New Hampshire have enacted legislation permitting up to 5% of public fund reserves to be invested in Bitcoin, with Arizona and Texas exploring similar initiatives amid rising adoption of digital financial infrastructure.
Firms such as VanEck and Strive Asset Management are introducing Bitcoin-linked sovereign debt instruments called BitBonds, while policymakers close to the Trump administration are promoting a strategic Bitcoin reserve.
Major corporations like MicroStrategy continue to expand their holdings, now surpassing 555,450 coins with a target value exceeding $57 billion. New entrants, such as TwentyOne Capital, are adopting similar long-term, treasury-focused strategies to accumulate Bitcoin.
The broader cryptocurrency ecosystem is also gaining momentum, with asset tokenization projected to reach $2 trillion by 2028 and stablecoin adoption paving the way for deeper digital asset infrastructure. BlackRock’s plan to tokenise US Treasury bonds on blockchain exemplifies this strategic shift toward digital-native capital markets.
Despite ongoing macroeconomic risks—including US-China trade tensions and concerns of stagflation—anticipated US interest rate cuts and supportive tax policies could further boost risk assets, including cryptocurrencies, in the latter half of 2025.
Merkle Capital concludes, “Bitcoin is entering its ‘adulthood’ phase in the financial world. Backed by institutional flows, supportive policies, and technological maturity, Bitcoin is well positioned to surpass its previous highs and potentially hit $130,000 this year.”
On Thailand’s Bitkub Exchange, Bitcoin was traded at 3,605,714.19 baht on May 22, rising 3.22% in the previous 24 hours, with intraday prices ranging from a low of 3,466,230 baht to a high of 3,620,000 baht.
Cointelegraph reports that the recent Bitcoin milestone coincides with turbulence in US equities. A weak 20-year treasury bond auction on May 21 led to higher bond yields, causing the S&P 500 to drop by 80 points within 30 minutes, while other major US indices also closed in red.
Additionally, a surge in ETF inflows—totaling $3.6 billion in May—reflects renewed investor interest in Bitcoin, helped by increased accumulation from various firms, contributing to the recent rally.
