The crypto courses show up again on Thursday from their strong side. Led by a Bitcoin that marked fresh all -time highs, a bullish dynamic recorded the entire cryptoma market. Exciting times are starting for investors – the Rally does not seem to be over.
The world's largest cryptocurrency, Bitcoin, has climbed by more than four percent in the past 24 hours to an impressive $ 111,980 on trading platforms such as Binance, before it easily retired to $ 111,690. The various old coins also attracted a lot in the slipstream of the top dog.
coingecko.com
Option market explodes – record interest
The massive course dynamics literally have the demand for global crypto options skyrocket. The open interest (OI) for Bitcoin options reached a new all-time high with over $ 45.8 billion and, according to Coinglass data, accounts for almost 84 percent of the entire market for digital asset options. At the same time, the open interest for ETH options pacessed to over $ 8 billion. The entire open interest for Bitcoin and Ether options grew to over $ 53.8 billion nominal value- the highest level since December 2024.
All drivers on full load
Geoffrey Kendrick, global director of digital-asset research at Standard Chartered, sees clear reasons for the current housesee. He explained that the already known market stimulants had fueled the rally of the BTC together. “Since Bitcoin reaches a forecast all -time high, it is time to take stock and see which of our predicted drivers work. Short answer – everything works,” Kendrick wrote in a report dated May 22.
Already at the beginning of this week, Kendrick confirmed his ambitious price target of $ 500,000 for Bitcoin, which is to be achieved during the current term of office of US President Donald Trump. To support his thesis, the Standard Chartered expert referred to quarterly 13F data of the US stock exchange supervision Sec. These showed that sovereign states and institutions increase their commitment to Bitcoin via proxy assets such as Microstrategy. This trend has probably continued until the second quarter of 2025.
In addition, capital of gold funds has been switched into Bitcoin products since the high of gold on April 22. Gold ETPs lost over $ 3.6 billion, while BTC ETFs attracted over $ 7.5 billion in these five weeks, according to Kendrick. During this time, empty sales of hedge funds rose only by $ 1 billion, which indicates that net long positions made the lion's share of the BTC ETF rivers.
Kendrick also emphasized that Bitcoin remains correlated closely with the US trasure terminology. Increasing risks on the treasury market, both in Germany and internationally, would also increase the attractiveness of Bitcoin. His forecasts are clear: “My official forecasts for Bitcoin are $ 120,000 by the end of Q2, $ 200,000 by the end of 2025 and $ 500,000 by the end of 2028. Everyone is in good planning,” said the analyst.
The Bitcoin Express rolls unstoppable and the signs are clearly on storm. The institutional interest, the positive mood among President Trump and the impressive course development speak a clear language. Investors therefore remain on board.
But if you want to get more out of the current crypto house and want to find out which old coins are hot, you should take a look at the Bitcoin report. More on this here.
Reference to conflicts of interest
The board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, is directly and indirectly positions about the subsequent financial instruments mentioned in the publication or this received from the derivatives related to the publication that can benefit from the publication: Bitcoin.
