Key Highlights:

Bitcoin $BTC has reached an all-time high above $111,000.

Analysts expect BTC could climb to $180,000 by year-end.

Market makers might slow the rally due to hedging at $115K.

Positive momentum driven by spot ETFs, institutional adoption, and corporate treasuries.

Some investors are using ETH as a hedge too, amid U.S. credit concerns.

📈 What's Fueling the Surge?

Institutional Demand: Corporations and even governments are buying BTC via OTC (over-the-counter) channels, reducing available supply.

Spot ETF Inflows: Spot Bitcoin ETFs are attracting billions, adding more buying pressure.

Fiat Risk Hedge: Downgrades like Moody’s cut to U.S. credit rating are pushing investors to BTC and Ethereum (ETH) as safe-haven assets.

⚠️ Why $115K Matters

Market makers (dealers) are likely to hedge heavily around $115K–$150K, which could slow the rally.

This hedging is due to “positive gamma” positions in BTC options markets.

If BTC breaks cleanly above $115K, the rally could accelerate rapidly.

🧠 Expert Insight

> “If we can clear the gamma pocket at $115K, this rally could really start to go,”

– Jeff Anderson, STS Digital

> “More demand is coming as corporate and possibly sovereign buyers enter the game,”

– Alexander S. Blume, Two Prime

🔮 Outlook

BTC is in strong territory, but watch closely around $115K. If that level is cleared, we might see a powerful move toward $150K and beyond.

🪙 Coins to Watch

Bitcoin $BTC

Ethereum $ETH