Bitcoin Eyes $116,000 Surge as Bullish Momentum Builds
Bitcoin’s recent breakthrough above the $100,000 mark has sparked renewed Optimism among investors and analysts, with many predicting a potential rally to $116,000. The cryptocurrency’s strong performance over the past month, coupled with technical indicators, suggests a significant upward movement could be on the horizon.
Bitcoin Poised for Potential Breakout to $116,000 Amid Bullish Sentiment
Bitcoin’s recent reclaim of the $100,000 psychological threshold has reignited bullish momentum, with analysts eyeing a potential surge to $116,000. Market observer Trading Heights notes BTC is consolidating within a converging triangle pattern—a classic precursor to volatility—amid declining trading volume.
The cryptocurrency has gained 24.4% over the past month, currently trading at $108,593 according to CoinGecko. A decisive breakout could see Bitcoin eclipse its current all-time high of $108,786. The bullish technical setup coincides with macroeconomic tailwinds, including former President Trump’s advocacy for Federal Reserve rate cuts.
Bitcoin ETFs See $1 Billion Influx in Two Days as BTC Hits Record High
U.S. spot Bitcoin ETFs have absorbed nearly $1 billion in inflows this week alone, propelling BTC to a new all-time high. The surge underscores accelerating institutional adoption, with cumulative net flows now exceeding $42 billion.
Farside Investors data reveals $996.6 million entered these funds on Monday and Tuesday, while Wednesday’s figures remain pending. The ETFs’ performance mirrors Bitcoin’s bullish momentum, with demand showing no signs of abating.
Texas Advances Bitcoin Reserve Bill with Legislative Amendments
Texas lawmakers have taken a decisive step toward establishing a state-level bitcoin reserve, passing the SB 21 bill in the House with a 101-42 vote. The legislation now returns to the Senate for final approval of newly added amendments, following an earlier 25-5 Senate endorsement in March.
Governor Greg Abbott will face a 20-day window to sign or veto the bill once it reaches his desk. Inaction would automatically enact the law, allowing the state comptroller to allocate surplus General Revenue to Bitcoin acquisitions—a move that could institutionalize crypto adoption at the government level.
The bipartisan support reflects growing recognition of Bitcoin’s strategic value in treasury management. Market observers note such regulatory milestones often catalyze broader institutional participation in digital asset markets.
Bitcoin Hits New All-time High Price $109,800— Veteran Trader Says Bull Run Begins
Bitcoin surged to a record $109,788, eclipsing its previous peak and cementing its position as the fifth-largest asset globally with a $2.14 trillion market cap—now surpassing Amazon. Institutional demand fuels the rally, with MicroStrategy amassing 576,000 BTC, equivalent to 2.7% of the total supply.
Market veterans interpret the breakout as the start of a sustained bull cycle. Capital inflows from corporate treasuries and hedge funds underscore growing mainstream acceptance of crypto as a macro asset.
Hyperliquid Trader’s $1 Billion Bitcoin Bet Seesaws Amid Price Volatility
A daring $1 billion Bitcoin wager on decentralized exchange Hyperliquid faced extreme volatility Wednesday, with the trader’s position swinging between profit and loss. The unidentified investor, using wallet "0x507," endured a $32 million paper drawdown as Bitcoin prices gyrated wildly.
Bitcoin briefly surged to a record $109,000 before retreating, then rallied again in a display of market turbulence. The trader maintained a 40x Leveraged long position throughout the whipsaw action, demonstrating high-risk appetite in volatile market conditions.
