Bitcoin Approaches Historic Peak Amid Surging Open Interest and Market Anticipation

Bitcoin is on the verge of reaching a new all-time high, with its price holding steady above $106,000, just 3% shy of its January peak of $109,588. The cryptocurrency's open interest has skyrocketed to a record $75.14 billion, mirroring the market conditions seen before previous bull market surges. Traders are closely watching the upcoming 'TRUMP Gala' meme coin fundraiser, which could trigger significant volatility and potentially propel Bitcoin to new heights. This article delves into the current market dynamics and what investors can expect in the coming days.

Bitcoin Nears All-Time High as Open Interest Hits Record $75 Billion

Bitcoin price held steady above $106,000 on Wednesday, hovering just 3% below its January peak of $109,588. The cryptocurrency's open interest surged to an unprecedented $75.14 billion, replicating the market structure observed before previous bull market breakthroughs.

Market participants are eyeing potential volatility from Thursday's 'TRUMP Gala' meme coin fundraiser, which could serve as a catalyst for Bitcoin's next decisive move. The event coincides with technical indicators suggesting growing institutional interest in digital assets.

BTC Price Soars Ahead of Bitcoin Pizza Day — New ATH Soon?

Bitcoin's price rally gains momentum as the crypto community prepares to celebrate bitcoin Pizza Day, marking the historic purchase of two pizzas for 10,000 BTC in 2010. The symbolic event underscores Bitcoin's extraordinary journey from obscurity to a trillion-dollar asset class.

Market sentiment appears bullish, with traders speculating about potential new all-time highs. The timing coincides with growing institutional adoption and macroeconomic tailwinds for digital assets.

BlackRock’s IBIT Bitcoin ETF Nears Monopoly Status as Institutional Demand Surges

BlackRock's spot Bitcoin ETF (IBIT) now holds over 636,000 BTC—more than double the combined holdings of all other U.S. spot Bitcoin ETFs. Since its approval in early 2024, IBIT has dominated capital inflows and BTC accumulation, signaling a seismic shift in institutional adoption.

Grayscale's GBTC continues to bleed assets while IBIT cements its position as the preferred institutional vehicle. This concentration of holdings raises structural questions about market competition and the potential emergence of a Bitcoin ETF monopoly.

Bitcoin Price Analysis: Is This the Final Pullback Before a New All-Time High?

Bitcoin is once again pushing toward its all-time high after a strong continuation from the recent breakout. The cryptocurrency has surpassed the $100K mark and is now consolidating below its ATH level, signaling either a temporary pause or potential exhaustion as market sentiment heats up.

On the daily chart, BTC has cleanly broken out of a descending channel and is testing the $108K resistance zone. The price remains firmly above both the 100-day and 200-day moving averages, underscoring robust macro bullishness. Higher lows and strong momentum support the uptrend, though the RSI NEAR 75 suggests a short-term cooldown may be imminent.

Bitcoin Could Hit $600,000 by October 2025, Says Fred Krueger

Fred Krueger's speculative forecast, dubbed "The Final Run," paints a dramatic scenario for Bitcoin's price trajectory. The prediction hinges on a cascade of geopolitical and economic events that could erode confidence in traditional financial systems.

A failed $200 billion US Treasury auction in July 2025 is posited as the catalyst, potentially triggering a flight to alternative assets. Krueger envisions BRICS nations launching a gold- and Bitcoin-settled payment system in response, with several emerging markets shifting reserves to BTC by August.

New Hampshire Passes Bitcoin Reserve Law: Which States Are Next?

New Hampshire has become the first U.S. state to authorize its treasurer to invest public funds in Bitcoin, marking a watershed moment for institutional cryptocurrency adoption. Governor Kelly Ayotte signed the bill into law on May 6, permitting allocations of up to 5% of state funds into digital assets with market capitalizations exceeding $500 billion—a threshold currently met only by Bitcoin.

The MOVE has triggered a legislative domino effect, with 47 similar bills now under consideration across 26 states. Texas, North Carolina, and Wyoming emerge as frontrunners in this regulatory race, signaling growing bipartisan recognition of cryptocurrency as a legitimate reserve asset.

"New Hampshire is once again first in the Nation," Governor Ayotte proclaimed on social media, framing the legislation as part of the state's tradition of financial innovation. The law strategically positions the state treasury to benefit from Bitcoin's scarcity mechanics while maintaining conservative exposure limits.