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Cryptocurrency News Articles
Bitcoin (BTC) Reaches New All-Time High, Briefly Touching $111,000
May 22, 2025 at 02:07 pm
The landmark moment follows a break above $109,000, capping a sustained rally that underscores rising investor confidence and renewed momentum in digital assets.
Bitcoin (BTC) price touched a new all-time high of $111,000 briefly on Thursday, propelled by a confluence of macroeconomic factors, policy developments, and growing institutional interest that is pushing the cryptocurrency into uncharted territory.
The landmark moment follows a decisive break above the $109,000 resistance level, completing a sustained rally that began after the U.S. Supreme Court ruling on Friday on Section 8 of the Administrative Procedure Act (APA). The sustained rally is also seeing a return of bullish momentum that began in March.
At the macro level, markets have welcomed the recent temporary trade truce between the U.S. and China, which saw both nations agree over the weekend to a 90-day suspension of new tariffs. The move has helped to alleviate some of the geopolitical uncertainty that had previously weighed on risk assets - with capital now rotating back into high-growth sectors, including crypto.
The U.S. Dollar Index (DXY) has also dropped below 99, reaching its lowest point in several weeks, further increasing the appeal of Bitcoin as an alternative store of value in the face of fiat depreciation.
But there are other bullish developments aiding Bitcoin’s ascent.
Texas Passes Bill For Strategic Bitcoin Reserve
The state of Texas has passed legislation to create a strategic Bitcoin reserve, a first-of-its-kind move in the U.S. that signals growing political legitimacy for Bitcoin as a long-term reserve asset.
This development could pave the way for wider state-level adoption of Bitcoin as part of official financial infrastructure.
"Texas House Bill 1578, legislating the creation of a strategic Bitcoin reserve, has passed and will head to the governor's desk for final approval. This bill signifies a groundbreaking moment in the U.S. as it marks the first time a state is considering investing in Bitcoin directly, " CCĐXV, a prominent member of the Bitcoin community, explained on X (formerly Twitter).
The bill's passage follows a period of heated debate among lawmakers, highlighting the diverse perspectives on cryptocurrency within the U.S. political landscape.
The legislation directs the Texas Comptroller of Public Accounts to explore the feasibility of investing state funds in Bitcoin. The move comes amid growing interest in cryptocurrencies among state governments, particularly in light of the recent downturn in the stock market and concerns over the long-term performance of traditional assets.
Several U.S. states are now actively examining the potential for investing in digital assets as part of their broader portfolio management strategies.
Prominent Bitcoin Whale Expands Holdings To $1 Billion
Investor confidence in Bitcoin is also being buoyed by large-scale moves from key market players.
James Wynn, a prominent Bitcoin whale, has reportedly expanded his Bitcoin holdings to an impressive $1 billion, belief in the cryptocurrency's long-term potential despite reaching six-figure price levels, according to a report by Web3_DeFi.
Wynn, a well-known figure in the Bitcoin community, is known for making bold investments and spotting emerging trends in the cryptocurrency market.
His move may also have a psychological knock-on effect, encouraging retail and institutional buyers alike to increase exposure to Bitcoin as they witness the commitment of experienced investors like Wynn.
At the same time, there has been sustained net inflow into spot Bitcoin ETFs in recent weeks, according to TabChain data.
This influx of capital is flowing into these regulated investment vehicles as a gateway for traditional finance to enter the digital asset space in scale.
The growing capital inflows into Bitcoin ETFs is a testament to the increasing appetite for regulated crypto investment products among institutional investors.
As traditional financial institutions navigate the complexities of the digital asset landscape, they are seeking out familiar and compliant avenues for participation.
Bitcoin ETFs provide a seamless entry point for institutional capital to allocate to cryptocurrencies in a manner that adheres to internal regulations and risk management frameworks.
The involvement of institutional investors is crucial for providing price stability and facilitating the long-term growth of the cryptocurrency market.
The involvement of institutional investors is crucial for providing price stability and facilitating the long-term growth of the cryptocurrency market. Their capital injections and participation are essential for sustaining and propelling the upward momentum of cryptocurrencies in the financial sphere.
Point Of Interest: If current trends continue, we might see the next psychological price point of $115,000 being tested in the coming week or two. Key factors to watch will be the Federal Reserve's tone on interest rates and upcoming U.S. economic data (GDP, PMI, PCE inflation).
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- Two Months After Trump Signed EO to Establish a Strategic Bitcoin Reserve (SBR), the US Treasury Has Missed Its First Deadline
- Jun 08, 2025 at 06:10 am
- The March 6 executive order directed Treasury Secretary David Bessent to submit, “within 60 days of the date of this order, … an evaluation of the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserve and United States Digital Asset Stockpile going forward, including the accounts in which the Strategic Bitcoin Reserve and United States Digital Asset Stockpile should be located and the need for any legislation to operationalize any aspect of this order or the proper management and administration of such accounts.”
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- Bitcoin (BTC) Continues to Trade Near the $95,000 Mark, Showing Signs of Consolidation After a Strong April Rally
- Jun 08, 2025 at 06:05 am
- Bitcoin (BTC) continues to trade near the $95,000 mark, showing signs of consolidation after a strong April rally. While bulls remain in control for now, momentum is slowing
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- An artificial intelligence and machine learning driven supply chain firm says it plans to buy $20 million in cryptocurrency backed by President Donald Trump
- Jun 08, 2025 at 05:55 am
- A firm says it plans to buy $20 million in cryptocurrency backed by President Donald Trump with the stated purpose of influencing U.S. trade policies.
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