Bitcoin surpasses $110,000 amid surge in institutional demand and stablecoin optimism

Record-breaking Bitcoin rally driven by U.S. stablecoin bill progress and corporate treasury moves.

Logos of Bitcoin and various other cryptocurrencies are displayed during the Token2049 conference in Dubai on May 1, 2025. Photo by Giuseppe Cacace/AFP

By Alana Salsabila and Adila Ghina

Bitcoin broke through the $110,000 mark for the first time on Thursday, extending its remarkable rally and setting a new benchmark for the world’s largest cryptocurrency. The price of Bitcoin rose as much as 2.2% during early Asian trading hours, reaching $110,707 before pulling back slightly, according to Bloomberg data.

This latest surge has intensified investor confidence, fueled by mounting institutional interest and optimism surrounding regulatory developments in the United States. Bitcoin surpasses $110,000 underscores both the importance and momentum of this rally, which analysts believe signals further upside for the crypto market.

Stablecoin bill fuels optimism

One of the major catalysts behind the climb was the advancement of a significant stablecoin bill in the U.S. Senate. Market participants are hopeful that the legislation will provide much-needed clarity for cryptocurrency operators in the country. The bill aims to define the legal framework for stablecoins — digital tokens typically pegged to fiat currencies — which would reduce regulatory uncertainty and encourage broader adoption of crypto assets.

The progress of the bill has prompted renewed confidence in the regulatory environment. It also aligns with expectations that Washington may finally be on a path to recognizing the legitimacy and economic potential of cryptocurrencies, particularly Bitcoin. Traders widely view such clarity as a green light for larger institutions to step in with more aggressive investments.

Institutional buyers continue to accumulate

Corporate interest in Bitcoin has been growing rapidly. Michael Saylor’s firm, Strategy, has led the charge, accumulating over $50 billion worth of Bitcoin to date. The company’s bullish approach has inspired a wave of imitators, with public firms and newly launched entities leveraging various financial instruments — including convertible bonds and preferred shares — to finance large-scale Bitcoin purchases.

Joshua Lim, global co-head of markets at FalconX Ltd., remarked on the upward trend, saying, “It has been a slow motion grind into new all-time highs. There’s no shortage of demand for BTC from SPAC and PIPE deals, which is manifesting in the premium on Coinbase spot prices.”

Among those joining the Bitcoin accumulation trend is Twenty One Capital Inc., a new firm modeled after Strategy and supported by an affiliate of Cantor Fitzgerald LP, stablecoin issuer Tether Holdings SA, and SoftBank Group. Similarly, Strive Enterprises Inc., co-founded by former Republican presidential candidate Vivek Ramaswamy, has announced a merger involving its subsidiary and Nasdaq-listed Asset Entities Inc. to form a Bitcoin treasury company.

These moves reflect growing sentiment that Bitcoin has become a strategic reserve asset for corporations looking to hedge against inflation and diversify their balance sheets. The involvement of high-profile investors and financial institutions has helped to further legitimize Bitcoin as a mainstream investment.

Options markets signal further upside

The momentum in spot markets is being mirrored by activity in Bitcoin options. Open interest has surged for contracts set to expire on June 27, particularly those with strike prices of $110,000, $120,000, and even $300,000. These positions suggest that some traders are betting on a continued rally into mid-year and beyond.

Tony Sycamore, a market analyst at IG, highlighted the significance of Bitcoin’s current price level in a research note. “The fresh record shows that Bitcoin’s steep decline from its previous high in January — which briefly dipped below $75,000 in April — was merely a correction within a broader bull market,” he wrote. “A sustained break above $110,000 is needed to trigger the next leg higher towards $125,000.”

Political overtones cloud crypto celebration

While Bitcoin’s price movement has generated widespread excitement among investors, political developments in the United States are adding complexity to the narrative. Former President Donald Trump is scheduled to host a dinner at his golf club near Washington on Thursday with major holders of his personal memecoin. The event has raised ethical concerns from watchdog groups, who warn that the gathering may amount to selling access to a sitting presidential candidate.

Critics argue that such meetings could represent a conflict of interest, particularly if transactions or participation in Trump-affiliated cryptocurrency ventures serve as a de facto entry fee. The controversy underscores ongoing tensions between the fast-moving world of digital assets and traditional governance standards.

Broader crypto market sentiment strengthens

Bitcoin’s milestone is part of a broader resurgence in digital assets. Ethereum, the second-largest cryptocurrency, also posted gains on Thursday, buoyed by improved sentiment and growing anticipation of a possible spot Ethereum ETF approval in the U.S. later this year.

Analysts are beginning to revisit their year-end price targets for Bitcoin, with some now suggesting levels as high as $150,000 if the current momentum continues. The influx of institutional buyers, combined with more favorable regulatory winds, is seen as a critical mix that could sustain the rally for months to come.

A new chapter for Bitcoin?

As Bitcoin surpasses $110,000, its journey from a niche digital asset to a mainstream financial instrument appears nearly complete. Institutional demand, legislative developments, and increased integration with traditional finance are reshaping the narrative around cryptocurrencies.

With this breakout, Bitcoin not only confirms its resilience but also signals that it may be entering a new era — one marked by broader utility, regulatory acceptance, and widespread corporate adoption.

As the crypto world watches closely, attention now turns to whether Bitcoin can maintain its momentum and establish a strong foothold above the $110,000 level. Should that happen, the path to $125,000 — and perhaps beyond — may come into focus more quickly than even the most bullish investors anticipated.

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