Bitcoin closed the day at its highest level in history near USD $ 108,000

By Hannah Pérez

Bitcoin approached its price maximum price of USD $ 109,000, with bulls pointing to USD $ 110,000 as the next destination of cryptocurrency.

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• Bitcoin recorded the highest daily closure in history near USD $ 108,000.
• Institutional appetite drives Bitcoin near its maximum historical price.
• The next key level to observe: USD $ 110,000.

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Bitcoin (BTC) reached the highest price level since January 20, when it broke a historical maximum over USD $ 109,000 in the middle of the inauguration of President Donald Trump for his second mandate in the White House.

The cryptocurrency market had become bassist in the months of the run that driven Bitcoin up to a price of six digits in January in the midst of the fears of recession and an uncertain macro context. Trump tariff announcements weighed on global financial markets in April, but the recent flexibility of politics has provided relief to investors.

The price of Bitcoin It has increased more than 40% since it sank to a local minimum below USD $ 75,000 in mid -April. In the midst of a continued rebound in recent weeks, the distinguished cryptocurrency recorded its greatest daily closure in history as it sought to recover its maximum price on Tuesday.

BTC marked a closing price of USD $ 106,830 on Tuesday (UTC), establishing a new historical record. Although Bitcoin You can negotiate 24/7, its candles open and close daily in a similar way to currency markets.

The climb was extended in the morning, with Bitcoin reconquesting a level of USD $ 108,000 in the graphics at 6:30 UTC, according to the data of Coinmarketcap. BTC’s total market capitalization stood on the USD $ 2.14 billion.

Institutional appetite feeds the ascent

The upward movement occurred in the middle of an extended running streak between the funds listed in the stock market (ETF) of Bitcoin in cash in the US Sosovalue. The accumulated net tickets are now USD $ 42.4 billion.

Regulatory records for the first quarter have reflected a sustained appetite of institutional investors by ETFs based on Bitcoinwith entities such as the bank giant Goldman Sachs and a sovereign fund in Abu Dhabi increasing its participation in ETF during the first months of 2025. Brown University also appears among investors.

Sovereign funds have also been actively looking for exposure to Bitcoinwith nations such as Norway, Switzerland, South Korea and France investing in actions of Strategywhich offer indirect exposure to cryptocurrency.

The analysts of Standard Charteredthat they noticed this trend in a report on Tuesday, they said that this sovereign appetite supports their theory that Bitcoin It will arise towards the USD $ 500,000 before Trump ends his mandate in 2029.

Meanwhile, within the most immediate period, cryptocurrency market operators seem optimistic in which the rebound will extend in the next few days, with the unprecedented level of USD $ 110,000 for Bitcoin as an important point to monitor.

USD $ 110,000 is the next key level for Bitcoin

The Coinbase Bitcoin Prima Index, which measures the percentage difference between the price of Bitcoin in Coinbase Pro (in US dollars) and the price in Binance (in reference to USDT), it is positive, indicating that US investors are buying Bitcoin With greater intensity, what is interpreted as a purchase pressure.

On the other hand, in the options market Bitcoin in DelibitThe data shows that market creators have a negative gamma exposure at the USD $ 110,000 level, suggesting that price action could be accelerated around this brand.

A negative gamma means that market creators, to maintain their exposure to the neutral market, must buy when the price rises and sell when the price drops. This means that if Bitcoin Up above USD $ 110,000, operators will buy more to cover their positions, which could accelerate the climb. Otherwise, if the price falls, they will sell, which could intensify the fall.

The analysts of Standard Chartered They visualized, a few weeks ago –When BTC returned to the upward action-, A price of USD $ 120,000 this same quarter, but later they retracted, saying that this level could even be too conservative.

At the time of publishing this article, BTC is around USD $ 106,500, 1.6% higher in 24 hours and a 22% increase in the month.

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Hannah Estefanía Pérez / Diariobitcoin

Image generated with AI, under free use license

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