Bitcoin reaches highest-ever weekly close near all-time high, trading around $104,730

From Cointelegraph

May 18, 2025 11:19 pm:

Bitcoin has achieved its highest-ever weekly close, nearing its all-time high with a closing price just below $106,500 on May 18. The last highest weekly close was in December at $104,400, followed by an all-time high of $109,358 in January. Bitcoin is now less than 3% away from its peak price, currently trading around $104,730. Investor Scott Melker noted the highest daily candle close ever on May 18.

Bitcoin has seen weekly gains for six consecutive weeks, similar to its November gains when it added $30,000 in three of its largest weekly candles. In May, Bitcoin has climbed from $94,000 to over $106,000 before pulling back to around $105,400. Arete Capital partner “McKenna” mentioned the return of the Coinbase premium, reflecting positive US sentiment towards Bitcoin.

Analyst Willy Woo discussed Bitcoin’s compound annual growth rate (CAGR) on May 18, noting a downward trend as the network accumulates more capital. Woo predicts Bitcoin will continue to absorb capital until it reaches equilibrium, estimating an annual growth rate of around 8% in 15 to 20 years. Enjoy the ride as Bitcoin’s CAGR erodes, outperforming most publicly investable products in the long term.

Read more at Cointelegraph: Bitcoin notches record weekly close after highest-ever daily close candle