Pakistan, May 22 -- Bitcoin has reached a new all-time high, breaking past $111,000 in early trading on Thursday. The cryptocurrency peaked at $111,886.41, according to Coin Metrics, before settling just below $111,000. This impressive surge came even as U.S. stock markets faced a downturn, showing Bitcoin's growing strength as an independent financial asset.

Experts credit this rally to a mix of strong momentum, optimism around crypto regulation in the U.S., and a noticeable rise in institutional investment. James Butterfill, head of research at CoinShares, noted that many investors are turning to Bitcoin as a safe store of value during uncertain economic times. This trend is especially strong as traditional markets remain shaky.

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