๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ถ๐๐ $๐ญ๐ฌ๐ฌ๐: ๐๐ง๐ซ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐น๐ ๐ช๐ต๐
Bitcoinโs explosive rally above $100,000 isnโt random.
HTX Research breaks down the key drivers fueling this surge โ macro shifts, liquidity waves, and big money flows.
Cooling Inflation and Fed Liquidity Boost Risk Appetite
โก U.S. inflation slowed to 2.3% in April โ the lowest in 4 years
โก Fed pumped in $30B liquidity, easing QT and helping risky assets rally
โก Money market funds left the Reverse Repo, injecting more cash into markets
But HTX warns: This liquidity boost may reverse by August if the U.S. Treasury refills its account and the RRP dries up.
Institutions Are Loading Bitcoin, but Market Looks Overheated
โก Open interest in Bitcoin futures holds near 660K BTC, showing strong institutional bets
โก BTC derivatives piled up near $100K, adding to leverage risks
โก ETH and SOL futures also jumped, but 90%+ of holders are now in profit, signaling danger of sudden pullbacks
HTX also sees Bitcoin option volatility dropping post-CPI, while ETH options show long-term bullish bets for $4,000โ$5,000 by December.
Market Outlook: Bullish for Long Term, Caution for Short Term
HTX says the bigger picture stays bullish, but warns of short-term turbulence from crowded long positions and profit-taking risks.
SECโs New Crypto Move:
Tokenized Securities Could Get Green Light
HTX highlights a game-changing regulatory step:
โก SEC may soon allow tokenized securities to trade on blockchains without full registration
โก Pilot program to test this with strict rules โ anti-fraud, clear disclosures, and safe custody
โก Could unlock new doors for utility tokens and boost crypto legitimacy
HTX sees this as fuel for both institutional innovation and market confidence.