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Bitcoin 
$105,367 concluded Tuesday by closing at $106,830, marking its highest daily closure to date. This robust performance is evaluated alongside increased institutional interest in spot ETFs and uncertainties in the global bond markets. Particularly, concerns about the economic trajectory in the United States are directing investors towards safe havens. The $110,000 level is now emerging as a new resistance point.
Institutional Demand for Bitcoin Hits Peak
The record Bitcoin closing is bolstered by recent intense fund inflows into spot ETFs. As US-based investors opt for traditional avenues to access digital currencies, price discrepancies have begun to appear, especially on exchanges like Coinbase. According to the Coinbase Bitcoin Premium Index, the price difference between Coinbase Pro and Binance USDT remains positive. This signals strong buying demand from the US.
Weakness in economic indicators and growing US public debt are channeling investors towards assets with limited supply like Bitcoin and gold. Analysts emphasize that in periods of rising uncertainty, the tilt towards digital currencies accelerates. The accessibility and reliability of crypto ETFs facilitate the flow of substantial capital into this domain.
Options Market Activity Could Trigger Volatility
Movements in the options markets are significantly impacting Bitcoin’s price direction. According to Deribit data, many market makers hold negative gamma positions at the $110,000 level. Such positions necessitate further buying as the price moves upward, potentially accelerating price movements.
Market makers continually execute buy-sell transactions to maintain their positions delta-neutral. This particularly intensifies volatility at certain levels. Surpassing the $110,000 threshold could cause sharp upward price jumps for Bitcoin.
The growth of options markets over the last five years has heightened the impact of such dynamics. This interaction suggests that Bitcoin’s price structure is now fueled not only by spot demand but also by derivative transactions. Increased institutional participation and hedge positions could open the door to unexpected market movements.
