Share this article
Bitcoin Sets Record Daily Close With $110K as the Next Level to Watch for BTC
The next significant price level for Bitcoin is $110,000, where market dynamics could amplify price movements.
Updated May 21, 2025, 2:10 p.m. Published May 21, 2025, 5:21 a.m.
What to know:
- Bitcoin's daily candle closed at a record high of $106,830 amid increased investment in spot ETFs.
- Concerns over fiscal health in major economies, including the U.S., are bullish for BTC and gold.
- The next significant price level for Bitcoin is $110,000, where market dynamics could amplify price movements.
Although bitcoin can be traded 24/7 its candles open and close daily similar to foreign exchange markets. The latest data from TradingView shows Tuesday's candle ended (UTC) at $106,830, the highest-ever daily closing price.
The bullish move came as investors poured money into the spot exchange-traded funds (ETFs) amid chaotic price action in bond markets that suggested heightened concerns about the fiscal health of major economies, including the U.S.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Analysts told CoinDesk last week that the worsening fiscal debt situation could bode well for BTC and other assets such as gold.
The Coinbase Bitcoin Premium Index, which measures the percentage difference between the price of Bitcoin on Coinbase Pro (USD pair) and the price on Binance (USDT trading pair), remained positive, indicating a persistent buying pressure from the U.S.-based investors.
With the uptrend in progress, the next key level to watch is $110,000. Data from Deribit's BTC options market, tracked by Amberdata, shows dealers or market makers hold a large net "negative gamma" exposure at the $110,000 level.
Dealers holding negative gamma typically trade/hedge in the direction of the market to maintain their overall market exposure delta neutral. That, in turn, amplifies bearish and bullish moves.
In other words, the rally may accelerate on a potential breakout above the $110,000 mark. The options market has grown significantly over the past five years, with dealer hedging adding to volatility on several occasions.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
