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#Binance Crypto market news: Bitcoin extends bullish rally to hit record high of $1,11,000 amid US optimism

group of 12 US Bitcoin exchange-traded funds have drawn strong inflows, with investors pouring in about $4.2 billion so far in May. In options markets, traders built eye-catching Bitcoin positions earlier this week with the $110,000, $120,000 and $300,000 calls expiring on June 27 logging the most open interest — or number of outstanding contracts — on Deribit, the derivatives exchange.

Bitcoin surpassed $111,000 for the first time, with traders increasingly bullish on the prospects of the original cryptocurrency amid mounting institutional demand and support from Donald Trump’s administration.

Bitcoin climbed as much as 3.3% on Thursday to hit a record of $111,878, and traded just below $111,000 at 6:15 a.m. in New York. Smaller tokens also rose in a broad rally, with second-ranked Ether at one point up about 7.3%.