Particle.news
Download on the App Store
58 ARTICLES
·
6h ago

Bitcoin Surpasses $110,000 for the First Time, Setting New Record

The milestone comes as institutional demand surges, regulatory clarity improves, and macroeconomic conditions boost risk assets.

Representations of cryptocurrency bitcoin are seen in this illustration picture created in Paris, France, March 9, 2024.
Image
Image
Image

Overview

  • Bitcoin hit an all-time high of $110,707 during early Asian trading on Thursday, marking a 46% rebound from its April low of $75,000.
  • The U.S. Senate advanced stablecoin legislation this week, signaling progress toward broader cryptocurrency regulation and boosting investor confidence.
  • Institutional demand surged in May, with spot Bitcoin ETFs attracting $3.6 billion in inflows and corporate treasuries increasing their Bitcoin holdings.
  • Easing U.S.-China trade tensions, softer inflation data, and a weaker dollar have created a favorable macroeconomic backdrop for Bitcoin's rally.
  • Options traders are positioning for further price increases, with significant open interest in call options at $110,000 and $300,000 strikes for June expirations.