Bitcoin continues to set new historical highs, reaching $118,000 per coin.

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On Friday during the Asian market, driven by strong demand from institutional investors, an influx of retail investors, and the Trump administration's friendly policies towards cryptocurrencies, Bitcoin continues to set new historical highs, reaching $118,000 per coin.

Market analysis believes that Bitcoin's record high is due to the relentless accumulation by institutional investors—major participants are significantly absorbing supply and consuming liquidity from exchanges.

Currently, options traders have set their sights on higher price ranges. Deribit exchange's open interest is clearly concentrated on call options with strike prices of $115,000 and $120,000. Longer-term options expiring at the end of September and December have open interest extending to strike prices of $140,000 and $150,000.

This recent breakthrough rally driven by institutional demand reaffirms the bullish sentiment among crypto investors since last November's U.S. election—Trump's return to office is expected to usher in a new era of relaxed regulation. "The options market is reflecting strong bullish sentiment," pointed out Chris Newhouse, research director at DeFi trading firm Ergonia, "the market broke through historical highs just after experiencing the largest short squeeze since May 7, with about $447 million in positions being liquidated, clearly indicating that bearish positions have become overly crowded and are highly susceptible to a short squeeze."

In March, Trump signed an executive order aimed at establishing a cryptocurrency strategic reserve. He also appointed several individuals with a friendly attitude towards cryptocurrencies, including Securities and Exchange Commission Chairman Paul Atkins and White House AI czar David Sacks.

Trump's family business has also ventured into cryptocurrency. According to a document from the Securities and Exchange Commission last Tuesday, Trump Media & Technology Group is seeking to launch an exchange-traded fund (ETF) to invest in various cryptocurrencies, including Bitcoin.

The issuance of new coins has been surpassed, and analysis shows that not only institutional investors are actively accumulating Bitcoin, but retail investors, who previously held a wait-and-see attitude, have also joined this wave. Because of this, Bitcoin's price was previously able to avoid falling below the psychological threshold of $100,000. #BTC再创新高 #比特币减半完成