Bitcoin’s market capitalization has surged to $2.2 trillion for the first time, establishing it as the fifth-largest asset globally, now surpassing Amazon and Google. A bullish sentiment prevails, reflected in steady BTC prices around $110,000 and substantial call options positioned in the market. As the end-of-May options expiry approaches, significant activity is recorded, with traders betting on future prices reaching as high as $300,000. Additionally, institutional inflows continue to rise, particularly into BlackRock’s iShares Bitcoin Trust, which attracted $877 million in a single day. Unlike traditional equities, Bitcoin has shown uncorrelated performance, increasing by 5% over the past week while the S&P 500 declined by over 1%. Upcoming macro events, including a key speech by Federal Reserve Chair Jerome Powell, are anticipated to influence market trajectories. Overall, Bitcoin’s growing acceptance among both retail and institutional investors is coupled with unique derivatives positioning, suggesting strong upward momentum in the near future.

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