Bitcoin Holds Steady Near $109,000 as Traders Anticipate New Highs
Bitcoin BTC is stable near $109,000, with expectations for new highs. Ether ETH increased over 3% amid renewed confidence in Ethereum's strategy and institutional interest.
- U.S. equities rose post-Memorial Day, led by a 2% gain in the Nasdaq.
- Stabilizing Treasury yields and easing shipping disruptions improved risk appetite.
- Institutional investors are reallocating into crypto as traditional safe havens face volatility.
- Ethereum's treasury initiative aims to create a $425 million ETH-based reserve.
- The offering will close on May 29th, with proceeds used to buy ether as a treasury asset.
- Bitcoin exchange-traded funds saw over $385 million in inflows, indicating strong institutional demand.
- Traders remain cautious ahead of the Bitcoin Conference in Las Vegas, noting potential market volatility.
- Perpetual futures open interest has decreased; funding rates have normalized.
- Despite caution, analysts maintain a bullish outlook for summer price increases.