Bitcoin has officially surpassed the $110,000 mark for the first time in history, marking a new milestone for the largest cryptocurrency in the market. According to data from #Bloomberg , BTC surged by up to 2.2% in early trading in Asia on Thursday, reaching a peak of $110,707 before slightly adjusting.
This strong upward momentum is being driven by a series of positive factors coming from the United States – where confidence in the crypto market is being rekindled.
New hopes from U.S. policy
One of the most important drivers is that the U.S. Senate has just made a significant step in the stablecoin legislation. This move raises hopes that the U.S. will soon have a clearer legal framework for the cryptocurrency industry – something investors have long awaited.
Not stopping there, the rise of $BTC is also supported by a surge in demand from digital asset storage companies, especially MicroStrategy of billionaire Michael Saylor – which now holds over $50 billion worth of Bitcoin.
Fever from institutional investors
According to Joshua Lim from FalconX, the market is witnessing a "whirlwind of demand" from SPAC deals, PIPE transactions, and small public companies, many of which are founded by veteran crypto players. These companies are pouring money into BTC by issuing convertible bonds or preferred stocks to accumulate assets.
For example, a new company named Twenty One Capital Inc., backed by Cantor Fitzgerald, Tether Holdings, and SoftBank, is being established to mimic MicroStrategy's Bitcoin accumulation model. Additionally, a subsidiary of Strive Enterprises – co-founded by politician Vivek Ramaswamy – is also merging with a listed company to create a new "Bitcoin treasury".
Derivatives trading is heating up again
In the options market, large positions are concentrated at price levels of $110,000, $120,000, and even $300,000, with expiration dates on June 27. These are notable figures, reflecting the extremely optimistic sentiment of investors on the Deribit derivatives exchange.
According to Tony Sycamore from IG, this increase indicates that the sharp correction below $75,000 in April was merely a "setback in the bull market." If BTC sustainably surpasses the $110,000 mark, the next target could be $125,000.
Political undercurrents: Trump and memecoin
Notably, this price surge coincides with former President Donald Trump's upcoming meeting with memecoin holders he supports at a dinner at his private golf course near Washington.
This event is controversial as it is seen as "buying political access" through transactions beneficial to Trump. Some political ethics experts have expressed concerns about conflicts of interest, especially as crypto and politics are becoming increasingly intertwined in the upcoming election.
Connecting with crypto users and Binance
The rise of BTC is not only an investment opportunity but also a sign that the crypto market is moving closer to transparency and official recognition. With clearer policy moves in the U.S., users on platforms like Binance will benefit from a more stable and accessible legal environment.
However, users also need to exercise caution regarding risk factors, especially as FOMO (fear of missing out) sentiment can lead to hasty investment decisions.
Risk warning
The cryptocurrency market is highly volatile and not suitable for everyone. Although Bitcoin is reaching new highs, investors should still conduct their own research, manage risks, and not invest beyond their ability to absorb losses.
