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Business Standard
22-05-2025
- Business
- Business Standard
Bitcoin tops $111,000 for first time as US optimism lifts cryptocurrencies
Bitcoin surpassed $111,000 for the first time to reach a record high, with traders increasingly bullish on the prospects of the original cryptocurrency amid mounting institutional demand. Bitcoin climbed as much as 3.3 per cent on Thursday to hit a record of $111,878, according to data compiled by Bloomberg. Smaller tokens also rose, with second-ranked Ether at one point up about 5.5 per cent. A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for digital-asset firms under President Donald Trump, who is avowedly pro-crypto. Surging demand from Michael Saylor's Strategy — which has stockpiled over $50 billion worth of Bitcoin — and a growing list of token hoarders is another driving force behind the rally. 'It has been a slow motion grind into new all-time highs,' said Joshua Lim, global co-head of markets at FalconX Ltd. 'There's no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.' Such buyers include a flurry of obscure small-cap companies and public firms newly formed by crypto heavyweights which are financing their purchases by offering anything from convertible bonds to preferred stocks. An affiliate of Cantor Fitzgerald LP is working with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company that emulates Strategy's business model. A subsidiary of Strive Enterprises Inc. co-founded by Vivek Ramaswamy is merging with Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury company. 'Unlike previous cycles, this rally is not momentum-driven alone,' said Julia Zhou, COO of crypto market maker Caladan. 'It is quantitatively underpinned by measurable, persistent demand and supply dislocations.' Bitcoin's outperformance relative to smaller cryptocurrencies is widening. An index that tracks so-called altcoins is down about 40 per cent year-to-date, while Bitcoin is up 17 per cent so far in 2025. In options markets, traders built eye-catching Bitcoin positions earlier this week with the $110,000, $120,000 and $300,000 calls expiring on June 27 logging the most open interest — or number of outstanding contracts — on Deribit, the derivatives exchange. Tony Sycamore, market analyst at IG, said in a note that the fresh record shows that Bitcoin's steep decline from a previous high set on Jan. 20 to below $75,000 in April was 'a correction within a bull market.' 'A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000,' he added. Bitcoin's latest milestone comes as Trump prepares to meet with the biggest holders of his memecoin at a dinner at his golf club just outside Washington on Thursday. The event has raised concerns among ethics experts, who argue that it offers access through transactions that directly benefit the president, and has sparked criticism over potential conflicts of interest.
Hindustan Times
22-05-2025
- Business
- Hindustan Times
Bitcoin hits record high, crosses $111,000 mark for first time as US optimism lifts crypto
Bitcoin surpassed $111,000 for the first time to reach a record high, with traders increasingly bullish on the prospects of the original cryptocurrency amid mounting institutional demand. Bitcoin climbed as much as 3.1% in early Asian trading on Thursday to hit a record of over $111,650, according to data compiled by Bloomberg. Smaller tokens also rose, with second-ranked Ether at one point up more than 5%. A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for digital-asset firms under President Donald Trump, who is avowedly pro-crypto. Surging demand from Michael Saylor's Strategy — which has stockpiled over $50 billion worth of Bitcoin — and a growing list of token hoarders is another driving force behind the rally. 'It has been a slow motion grind into new all-time highs,' said Joshua Lim, global co-head of markets at FalconX Ltd. 'There's no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.' Such buyers include a flurry of obscure small-cap companies and public firms newly formed by crypto heavyweights which are financing their purchases by offering anything from convertible bonds to preferred stocks. An affiliate of Cantor Fitzgerald LP is working with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company that emulates Strategy's business model. A subsidiary of Strive Enterprises Inc. co-founded by Vivek Ramaswamy is merging with Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury company. 'Unlike previous cycles, this rally is not momentum-driven alone,' said Julia Zhou, COO of crypto market maker Caladan. 'It is quantitatively underpinned by measurable, persistent demand and supply dislocations.' In options markets, traders built eye-catching Bitcoin positions earlier this week with the $110,000, $120,000 and $300,000 calls expiring on June 27 logging the most open interest — or number of outstanding contracts — on Deribit, the derivatives exchange. Tony Sycamore, market analyst at IG, said in a note that the fresh record shows that Bitcoin's steep decline from a previous high set on Jan. 20 to below $75,000 in April was 'a correction within a bull market.' 'A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000,' he added. Bitcoin's latest milestone comes as Trump prepares to meet with the biggest holders of his memecoin at a dinner at his golf club just outside Washington on Thursday. The event has raised concerns among ethics experts, who argue that it offers access through transactions that directly benefit the president, and has sparked criticism over potential conflicts of interest. Such events 'highlight crypto's increasing cultural visibility, though they have not had a measurable impact on market dynamics at this stage,' said Yuan Rong Tan, a trader at QCP Capital.
Yahoo
22-05-2025
- Business
- Yahoo
Bitcoin Tops $111,000 for First Time as US Optimism Lifts Crypto
(Bloomberg) -- Bitcoin surpassed $111,000 for the first time to reach a record high, with traders increasingly bullish on the prospects of the original cryptocurrency amid mounting institutional demand. Can Frank Gehry's 'Grand LA' Make Downtown Feel Like a Neighborhood? Chicago's O'Hare Airport Seeks Up to $4.3 Billion of Muni Debt NJ Transit Makes Deal With Engineers, Ending Three-Day Strike Bitcoin climbed as much as 3.1% in early Asian trading on Thursday to hit a record of over $111,650, according to data compiled by Bloomberg. Smaller tokens also rose, with second-ranked Ether at one point up more than 5%. A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for digital-asset firms under President Donald Trump, who is avowedly pro-crypto. Surging demand from Michael Saylor's Strategy — which has stockpiled over $50 billion worth of Bitcoin — and a growing list of token hoarders is another driving force behind the rally. 'It has been a slow motion grind into new all-time highs,' said Joshua Lim, global co-head of markets at FalconX Ltd. 'There's no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.' Such buyers include a flurry of obscure small-cap companies and public firms newly formed by crypto heavyweights which are financing their purchases by offering anything from convertible bonds to preferred stocks. An affiliate of Cantor Fitzgerald LP is working with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company that emulates Strategy's business model. A subsidiary of Strive Enterprises Inc. co-founded by Vivek Ramaswamy is merging with Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury company. 'Unlike previous cycles, this rally is not momentum-driven alone,' said Julia Zhou, COO of crypto market maker Caladan. 'It is quantitatively underpinned by measurable, persistent demand and supply dislocations.' In options markets, traders built eye-catching Bitcoin positions earlier this week with the $110,000, $120,000 and $300,000 calls expiring on June 27 logging the most open interest — or number of outstanding contracts — on Deribit, the derivatives exchange. Tony Sycamore, market analyst at IG, said in a note that the fresh record shows that Bitcoin's steep decline from a previous high set on Jan. 20 to below $75,000 in April was 'a correction within a bull market.' 'A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000,' he added. Bitcoin's latest milestone comes as Trump prepares to meet with the biggest holders of his memecoin at a dinner at his golf club just outside Washington on Thursday. The event has raised concerns among ethics experts, who argue that it offers access through transactions that directly benefit the president, and has sparked criticism over potential conflicts of interest. Such events 'highlight crypto's increasing cultural visibility, though they have not had a measurable impact on market dynamics at this stage,' said Yuan Rong Tan, a trader at QCP Capital. (Updates throughout) Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
22-05-2025
- Business
- Economic Times
Bitcoin tops $110,000 for first time as US optimism lifts crypto
Bitcoin has crossed $110,000, reaching a new record. Optimism grew after US senate considered a stablecoin bill. Michael Saylor's Strategy and other digital-asset firms are buying Bitcoin. Synopsis Bitcoin has crossed $110,000, reaching a new record. Optimism grew after US senate considered a stablecoin bill. Michael Saylor's Strategy and other digital-asset firms are buying Bitcoin. Some companies are using bonds and stocks to fund purchases. Traders are focusing on Bitcoin positions expiring in June. Experts suggest a sustained break above $110,000 could lead to $125,000. Bitcoin surpassed $110,000 for the first time to head toward another record high, with traders increasingly bullish on the prospects of the original cryptocurrency. ADVERTISEMENT Bitcoin climbed as much as 2.2% in early Asian trading on Thursday to hit $110,707, before paring gains, according to data compiled by Bloomberg. A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for crypto operators. Surging demand from Michael Saylor's Strategy — which has stockpiled over $50 billion worth of Bitcoin — and a growing list of digital-asset hoarders is another driving force behind the rally. 'It has been a slow motion grind into new all-time highs,' said Joshua Lim, global co-head of markets at FalconX Ltd. 'There's no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.'Such buyers include a flurry of obscure small-cap companies and public firms newly formed by crypto heavyweights which are financing their purchases by offering anything from convertible bonds to preferred stocks to finance. ADVERTISEMENT An affiliate of Cantor Fitzgerald LP is working with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company that emulates Strategy's business model. A subsidiary of Strive Enterprises Inc. co-founded by Vivek Ramaswamy is merging with Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury options markets, traders built eye-catching Bitcoin positions earlier this week with the $110,000, $120,000 and $300,000 calls expiring on June 27 logging the most open interest — or number of outstanding contracts — on Deribit, the derivatives exchange. ADVERTISEMENT Tony Sycamore, market analyst at IG, said in a note that the fresh record shows that Bitcoin's steep decline from a previous high set on Jan. 20 to below $75,000 in April was 'a correction within a bull market.''A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000,' he latest milestone comes as Trump prepares to meet with the biggest holders of his memecoin at a dinner at his golf club just outside Washington on Thursday. The event has raised concerns among ethics experts, who argue that it offers access through transactions that directly benefit the president, and has sparked criticism over the potential conflict of interest. (You can now subscribe to our ETMarkets WhatsApp channel) Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights NEXT STORY
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Business Standard
22-05-2025
- Business
- Business Standard
Bitcoin tops $110,000 for first time as US optimism lifts cryptocurrencies
A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for crypto operators Bloomberg Bitcoin surpassed $110,000 for the first time to head toward another record high, with traders increasingly bullish on the prospects of the original cryptocurrency. Bitcoin climbed as much as 2.2 per cent in early Asian trading on Thursday to hit $110,707, before paring gains, according to data compiled by Bloomberg. A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for crypto operators. Surging demand from Michael Saylor's Strategy — which has stockpiled over $50 billion worth of Bitcoin — and a growing list of digital-asset hoarders is another driving force behind the rally. 'It has been a slow motion grind into new all-time highs,' said Joshua Lim, global co-head of markets at FalconX Ltd. 'There's no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.' Such buyers include a flurry of obscure small-cap companies and public firms newly formed by crypto heavyweights which are financing their purchases by offering anything from convertible bonds to preferred stocks to finance. An affiliate of Cantor Fitzgerald LP is working with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company that emulates Strategy's business model. A subsidiary of Strive Enterprises Inc. co-founded by Vivek Ramaswamy is merging with Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury company. In options markets, traders built eye-catching Bitcoin positions earlier this week with the $110,000, $120,000 and $300,000 calls expiring on June 27 logging the most open interest — or number of outstanding contracts — on Deribit, the derivatives exchange. Tony Sycamore, market analyst at IG, said in a note that the fresh record shows that Bitcoin's steep decline from a previous high set on Jan. 20 to below $75,000 in April was 'a correction within a bull market.' 'A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000,' he added. Bitcoin's latest milestone comes as Trump prepares to meet with the biggest holders of his memecoin at a dinner at his golf club just outside Washington on Thursday. The event has raised concerns among ethics experts, who argue that it offers access through transactions that directly benefit the president, and has sparked criticism over the potential conflict of interest.
