Bitcoin recorded its highest-ever weekly close just below $106,500, approaching its all-time high, fueled by a consistent upward trend. The latest weekly gain builds on a six-week streak of positive closes, surpassing its previous highest weekly close of $104,400 from December. As of May 18, Bitcoin is only about 3% shy of its peak price and displayed a 2% increase in the last 24 hours, trading around $104,730. Additionally, it achieved its highest daily close ever, and analysts note that a daily close above $105,000 could signify a new high. Bitcoin's recent performance echoes significant gains seen in November, with the cryptocurrency adding $12,000 so far in May. Influential market figures highlighted ongoing strength in demand and speculated about major news that could impact the cryptocurrency's trajectory. Meanwhile, the compound annual growth rate (CAGR) for Bitcoin is noted to be cooling as it matures into a macro asset. Analyst Willy Woo anticipates an annual growth rate stabilizing around 8% in the coming years as Bitcoin continues to absorb capital within the financial system.

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