The post Bitcoin notches record weekly close after highest-ever daily close candle appeared on BitcoinEthereumNews.com.

Bitcoin 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 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. Its 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.  Bitcoin 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. Bitcoin 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. “Bitcoin just had its highest daily candle close… ever,” investor Scott Melker posted to X on May 19.  With a daily close above $105,000, “Bitcoin will develop a brand new higher high,” said analyst Rekt Capital. BTC/USD weekly timeframe. Source: TradingView Bitcoin’s 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. It 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. Related: BTC price to $116K next? Bitcoin trader sees ‘early week’ all-time high Additionally, Arete Capital partner “McKenna” said the Coinbase premium had returned, which measures US sentiment by comparing the difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT equivalent.  The “strength of this bid on a Sunday night feels strange,” they said, adding its “possible someone knows some important news dropping next week.” Bitcoin’s CAGR cools down…

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Filed under: News - @ May 19, 2025 6:24 am