Bitcoin closed near $107,000 for the first time in its history
A new milestone for the king of crypto. Bitcoin recorded its highest daily close in history at $106,830 on Tuesday, even touching nearly $108,000 this morning, according to TradingView data. This surge redirects all eyes towards an explosive technical threshold: $110,000.
Les ETFs as the engine, US debt as the fuel
This record comes amid massive flows into Bitcoin Spot ETFs, as bond markets show signs of stress related to the fiscal health of major economies, notably the United States. This situation reinforces the allure of Bitcoin… and gold.
The climate of distrust towards sovereign debts could fuel a new bullish cycle for safe-haven assets. Bitcoin continues to play its card as a monetary alternative, facing increasingly unsustainable fiscal policies.
The pressure from the United States
Another strong signal comes from the Coinbase Bitcoin Premium Index, which remains in positive territory. This indicates a persistent buying pressure from US investors, willing to pay more for their BTC on Coinbase than on Binance. A phenomenon that accentuates the bullish momentum.
The $110,000: a high-risk technical threshold
But the next target is not just symbolic. According to Amberdata’s data on Deribit’s BTC options markets, market makers are currently exposed to a strong position in ‘negative gamma’ around $110,000. In other words: they will have to hedge massively depending on the market direction if this threshold is surpassed.
And when dealers adjust their delta exposures in the midst of breaking resistance, volatility spikes. This means that any breach of $110,000 could amplify the rally… or trigger a sharp correction in case of rejection.
A tense market, an imminent break?
With record inflows, consistent US buying pressure, and high-leverage technical signals, the Bitcoin market is at a crucial juncture. Surpassing $110,000 would not just be a number: it would mark the entry into a new zone of turbulence… or euphoria.
