๐Ÿš€ Bitcoin Blasts Through $110K as Crypto Market Roars to Life

Bitcoin (BTC) has surged past the $110,000 milestone, peaking at an intraday high of $110,587, with its market cap soaring to $2.19 trillion. BTC now dominates 63.8% of the entire $3.44 trillion crypto economy. As of 7:30 p.m. ET, BTC is trading at $110,077.

๐Ÿ“ˆ Market Momentum Builds Across the Board

The broader crypto market is on fireโ€”up 3.85% in the last 24 hoursโ€”while BTC itself gained 4.1%. Ethereum (ETH) climbed 6%, and Dogecoin (DOGE) added 5.6%. Global trade volume exploded, spiking 42.95% to $119 billion, signaling a powerful return of buyer interest.

๐Ÿ“Š Bitcoin Futures & Institutional Action Heating Up

Open interest (OI) in Bitcoin futures is booming, currently sitting at 696,450 BTCโ€”worth $76.69 billion. CME leads the pack with 151,010 BTC ($16.6B in OI), representing 21.68% of the market and highlighting rising institutional demand. Binance follows closely with 117,180 BTC ($12.9B), capturing 16.82%. Both saw strong 24-hour OI growth: CME up 4.21%, Binance up 4.42%โ€”a sign of new long positions or strategic hedging.

๐Ÿ“‰ Options Market Skewed Bullish

The options landscape is clearly tilted in favor of the bulls:

62.38% of open interest is in call options (230,925.8 BTC)

37.62% sits in puts (139,250.36 BTC)

24-hour options volume mirrors this with nearly 63% focused on calls.

This bullish skew reflects strong sentiment for further upside, especially heading into late June.

๐ŸŽฏ Bold Bets: $120K & $140K BTC Targets in Sight

Traders are eyeing high targets with aggressive call positions:

Biggest OI in options: $140K call (expiring Sept 26)

Second largest: $120K call (expiring June 27) On the defensive side, the largest put is at the $85K strike, also for June 27โ€”suggesting some near-term caution while still preparing for upside.