Binance Futures Market Hits Record High as Bitcoin Surges Past $120K

Bitcoin has reached a new all-time high, surpassing $120,000, with a 3.7% gain in the last 24 hours, 14% over the past week, and 25% in the last month. However, beneath the surface of this bullish momentum, concerns about potential volatility are emerging due to rising open positions and leverage ratios. Binance’s futures market has reported record open positions at $14.1 billion, indicating aggressive capital inflows. The leverage ratio has also climbed to 0.204, a level not seen in recent history, suggesting heightened speculative activity. While the rally is fueling optimism, traders should remain cautious of the underlying risks in the market.

Bitcoin Skyrockets: What Hidden Dangers Lie Beneath?

Bitcoin’s price has surged past $120,000, marking a new all-time high. The cryptocurrency gained 3.7% in the last 24 hours, 14% over the past week, and 25% in the last month. Yet, beneath the euphoria, rising open positions and leverage ratios hint at potential volatility.

Binance’s futures market reports record open positions at $14.1 billion, signaling aggressive capital inflows. Leverage ratios have hit 0.204, a level last seen in August 2023. While leverage fuels rallies, it also raises the risk of cascading liquidations if sentiment shifts abruptly.

Bitcoin Surges Past $121,000 Amid Institutional Demand and ETF Inflows

Bitcoin breached the $121,000 mark, climbing 2.84% to $121,400 within 24 hours as institutional interest and spot ETF inflows fueled the rally. Trading volume spiked 39.34% to $63 billion, with corporate treasuries reportedly acquiring over $500 million in BTC.

U.S.-listed Bitcoin ETFs continue to attract capital, reinforcing institutional confidence and driving the cryptocurrency from $117,900 to $121,200 in under a day. Technical indicators now flash overbought signals, though bullish momentum persists.

The Altcoin Season Index’s 33% monthly gain hints at potential rotation into smaller digital assets. Market capitalization stands at $2.41 trillion as Binance’s founder denies Bloomberg’s $1 valuation report and threatens legal action.

Bhutan Moves $74.24M in Bitcoin to Binance Amid Market Rally

The Royal Government of Bhutan has transferred 650 bitcoin (BTC), worth approximately $74.24 million, to Binance over the past two weeks. The most recent transaction involved 99.47 BTC valued at $12.05 million, executed through Bhutan's sovereign investment arm, Druk Holding and Investments (DHI).

The transfers coincide with Bitcoin's surge to a record high of $122,300, signaling strategic profit-taking during a bullish market phase. Blockchain analytics reveal the wallet had been dormant prior to the activity, with transactions ranging from 2 to 200 BTC.

Bhutan maintains significant crypto reserves, holding 11,411 BTC ($1.4 billion) and 656 ETH ($2 million). The movement suggests institutional capital rotation into liquid markets as digital asset valuations climb.

Over $750M in Crypto Liquidated as Bitcoin Hits $122K ATH

Bitcoin's relentless rally to a record $122,000 triggered a cascade of liquidations exceeding $750 million within 24 hours, with short sellers bearing the brunt of the losses. The cryptocurrency's 3.4% surge from $118,000 forced the closure of 120,000 Leveraged positions, including a single $100 million short on Binance.

Ethereum and XRP mirrored Bitcoin's upward trajectory, amplifying market volatility. Coinglass data reveals shorts accounted for 83% of total liquidations, hemorrhaging $625 million compared to $125 million in long positions. This liquidation storm follows Bitcoin's consecutive breaches of $112,000 and $119,000 earlier in the week.

Institutional capital appears to be driving the momentum, with spot Bitcoin ETFs absorbing billions in fresh inflows. The buying frenzy coincides with progressing US crypto legislation and industry-wide anticipation of 'Crypto Week' developments.