Bitcoin's price has surged over 3% to exceed $105,000 as of May 20, driven by high open interest in the futures market and increasing institutional interest. Spot Bitcoin ETFs have seen significant inflows, totaling $6.9 billion over the last three weeks, indicating demand for regulated exposure to cryptocurrencies. Institutional investment products also attracted $557 million in inflows in the past week, highlighting strong investor confidence. Additionally, Bitcoin's open interest in the futures market has reached an all-time high of $72.63 billion, signaling robust interest in leveraged positions. Technically, Bitcoin is forming a cup-and-handle pattern, potentially targeting a price of $138,000 if it can break through key resistance levels. Recent movements suggest that Bitcoin is well-poised for further upward momentum, possibly reaching new highs soon.

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