{"id":129505,"date":"2025-05-19T04:15:43","date_gmt":"2025-05-19T04:15:43","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129505"},"modified":"2025-05-19T04:15:43","modified_gmt":"2025-05-19T04:15:43","slug":"bitcoin-notches-record-weekly-close-after-highest-ever-daily-close-candle","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129505","title":{"rendered":"Bitcoin notches record weekly close after highest-ever daily close candle"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin has notched its highest-ever weekly close as crypto market momentum continues and the cryptocurrency is again nearing its all-time high.<br \/>\nBitcoin (BTC) has closed at a weekly gain for the past six weeks in a row, and its most recent close at midnight UTC on May 18 was its highest weekly close ever at just below $106,500, according to TradingView.<br \/>\nIts last highest weekly close was in December when it reached $104,400. It later went on to reach an all-time high of $109,358 on Jan. 20, according to TradingView.\u00a0<br \/>\nBitcoin is now less than 3% away from its peak price and has gained 2% over the past 24 hours to trade around $104,730 at the time of writing.<br \/>\nBitcoin also posted its highest-ever close in a 24-hour period on May 18. However, this is not the largest daily gain Bitcoin has made.<br \/>\n\u201cBitcoin just had its highest daily candle close&#8230; ever,\u201d investor Scott Melker posted to X on May 19.\u00a0<br \/>\nWith a daily close above $105,000, \u201cBitcoin will develop a brand new higher high,\u201d said analyst Rekt Capital.<br \/>\nBTC\/USD weekly timeframe. Source: TradingViewBitcoin\u2019s weekly gains over the past six weeks are mirroring its gains in November when it added $30,000 in three of its largest weekly candles ever.<br \/>\nIt has added around $12,000 so far in May, climbing from $94,000 to over $106,000 before it pulled back to around $105,400.<br \/>\nRelated: BTC price to $116K next? Bitcoin trader sees &#8216;early week&#8217; all-time high<br \/>\nAdditionally, Arete Capital partner \u201cMcKenna\u201d said the Coinbase premium had returned, which measures US sentiment by comparing the difference between Coinbase\u2019s BTC\/USD pair and Binance\u2019s BTC\/USDT equivalent.\u00a0<br \/>\nThe \u201cstrength of this bid on a Sunday night feels strange,\u201d they said, adding its \u201cpossible someone knows some important news dropping next week.\u201d<br \/>\nBitcoin\u2019s CAGR cools down<br \/>\nOn May 18, analyst Willy Woo dived into Bitcoin\u2019s compound annual growth rate (CAGR), noting that it was trending downward as the network continues to store more capital.<br \/>\n\u201cBTC is now traded as the newest macro asset in 150 years, it&#8217;ll continue to absorb capital until it reaches its equilibrium,\u201d he said.<br \/>\nWoo compared it to long-term monetary expansion of 5% and GDP growth of 3%, estimating that Bitcoin\u2019s annual growth rate will be around 8% in around 15 to 20 years when it has settled.\u00a0<br \/>\n\u201cUntil then, enjoy the ride because almost no publicly investable product can match BTC performance long term, even as BTC&#8217;s CAGR continues to erode.\u201d<br \/>\nBitcoin annualized growth rate. Source: Willy WooMagazine: Arthur Hayes $1M Bitcoin tip, altcoins \u2018powerful rally\u2019 looms: Hodler\u2019s Digest<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-highest-weekly-close-after-largest-daily-candle-close?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin has notched its highest-ever weekly close as crypto market momentum continues and the cryptocurrency is again nearing its all-time high. Bitcoin (BTC) has closed at a weekly&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129505"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129505"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129505\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129505"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}