Bitcoin has officially entered uncharted territory, smashing through its previous record to hit an all-time high of $111,875, according to the CoinDesk Bitcoin Price Index. The surge comes as bond yields climb and concern over U.S. debt grows.
$BTC BTC is up nearly 4% in the past 24 hours, pushing the broader CoinDesk 20 Index up 4.74%. The charge is being fueled by relentless institutional interest and a clear appetite for digital assets amid macroeconomic uncertainty.
Traditional financial markets are grappling with rising yields—U.S. 10-year Treasuries have reached 4.6%, and 30-years have crossed 5%. Japan is seeing similar moves, with 30- and 40-year government bond yields hitting record highs. All eyes are on global debt levels and the impact of expanding deficits, especially as analysts estimate President Trump’s tax bill could add $5 trillion to the U.S. debt.
Despite the macro headwinds, Bitcoin's momentum remains strong. Traders are piling into long BTC options, with open interest spiking at strike prices of $110K, $120K, and even $300K, signaling strong conviction that the bull run is far from over.
Spot bitcoin ETFs in the U.S. are also seeing aggressive inflows—$1.6 billion this week alone and $4.24 billion in May—driving total net assets in bitcoin ETFs to a record $129 billion.
Some whispers of caution remain. ETH December call spreads and BTC butterfly positions hint at a possible consolidation phase. But overall, market behavior suggests profit-taking—not bearish sentiment—is behind recent equities pullbacks.
Key Dates & Events to Watch
May 22: Bitcoin Pizza DayMay 30: Second round of FTX repaymentsMay 31: Mezo mainnet launch (tentative)May 23: Key macroeconomic data from Canada and the U.S., including retail sales and jobless claims
Massive Moves on Hyperliquid
The decentralized trading platform Hyperliquid is making headlines after a pseudonymous trader opened a $1.1 billion BTC long using 40x leverage. The trade, opened at $108K, now sits with over $40 million in unrealized profit. Partial profits were taken early Thursday to the tune of 540 BTC (~$60 million).
$BTC This move has pushed HYPE token up 15% in 24 hours, as Hyperliquid continues to pull serious capital from centralized exchanges. Its custom HyperEVM Layer 1 is offering serious performance with deep liquidity and no KYC friction.
Options Market Heating Up
Open interest in BTC options on Deribit has surged past $34 billion, with over $9 billion focused on the May 30 expiry. Most of this volume is weighted toward bullish strikes, especially $100K, $120K, and $150K. Put/call volume ratios are tilting decisively bullish, dropping to 0.49, indicating the market is betting hard on continued upside.
Market Snapshot
BTC: $110,690 (+4.05%)ETH: $2,662 (+5.23%)CoinDesk 20: 3,348.63 (+4.88%)BTC Dominance: 63.90%Ethereum/Bitcoin Ratio: 0.02409
Technical Outlook
Bitcoin has broken above the previous ATH of $109K with strength, showing no sign of a reversal. Immediate resistance lies between $112K and $113K, but last week’s consolidation above $100K now offers solid support. A dip back to that zone could be an ideal reentry point for bulls.
Crypto Stocks & ETF Activity
Coinbase (COIN): +2.78% pre-marketMicroStrategy (MSTR): +1.73% pre-marketSpot BTC ETF net flow: $607M daily / $43.35B totalTotal BTC held in ETFs: ~1.19 million BTC
#BitcoinToTheMoon #CryptoAllTimeHigh #BTC111K $BTC