Bitcoin Soars Past $110K For The First Time—Regulatory Clarity, Billion-Dollar Buys, And What Comes Next

Bitcoin surged to a fresh all-time high, crossing the $110,000 mark in early Asian trading on Thursday before paring gains, according to data compiled by Bloomberg.

The original cryptocurrency rose as much as 2.2% to hit $110,707, signalling renewed bullish momentum in the digital asset market.

Regulatory Tailwinds Fuel Optimism
The rally comes on the back of increasing investor confidence, particularly after the US Senate advanced a key stablecoin bill. The legislation is seen as a milestone toward much-needed regulatory clarity for crypto operators, lifting sentiment across the digital asset space.

“There's no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices,” said Joshua Lim, global co-head of markets at FalconX Ltd, as mentioned in the report by Bloomberg.

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Bitcoin Treasuries Drive Institutional Demand
A significant source of buying pressure stems from companies stockpiling Bitcoin as part of their treasury strategies. Michael Saylor’s Strategy has amassed more than $50 billion worth of Bitcoin, fueling a wave of corporate interest in mimicking the approach.
 

An affiliate of Cantor Fitzgerald LP is now working with Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a firm modelled after Strategy’s business. Meanwhile, a subsidiary of Strive Enterprises Inc., co-founded by political figure Vivek Ramaswamy, is merging with Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury company, Bloomberg reported.

Such moves are being financed through creative instruments, ranging from convertible bonds to preferred stocks, reflecting the lengths companies are going to accumulate cryptocurrency.

Bullish Options Activity Signals Market Confidence
In derivatives markets, traders have taken aggressively bullish positions. According to Bloomberg, the $110,000, $120,000, and even $300,000 call options expiring on June 27 have recorded the most open interest on Deribit, the leading crypto options exchange.

Tony Sycamore, market analyst at IG, noted in a client note that the recent rise underscores that Bitcoin’s drop from its January 20 high to under $75,000 in April was “a correction within a bull market.” He added, “A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000.”

Politics Enter the Crypto Arena
As Bitcoin touches new highs, it also intersects with politics. Former President Donald Trump is expected to dine with major holders of his personal memecoin at his golf club near Washington on Thursday. The event has sparked ethical concerns, with critics warning of a potential conflict of interest, according to Bloomberg.

Despite such controversies, the broader narrative remains focused on Bitcoin’s momentum, driven by institutional adoption, increasing mainstream acceptance, and a regulatory backdrop that, for once, appears to be turning supportive.