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Bitcoin Smashes Past $111K, Setting New Record Highs, on Institutional Fervor
Large institutions — not just retail hype — are driving this cycle’s rally, traders say, as bitcoin pushes deeper into price discovery.
May 22, 2025, 5:24 a.m.
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What to know:
- Bitcoin reached an all-time high of $111,878, driven by institutional investment.
- Public companies are increasingly using Bitcoin as a treasury asset, boosting demand.
- JPMorgan Chase's involvement in Bitcoin signals a shift in traditional finance's view of crypto.
Bitcoin broke through $111,000 for the first time early Thursday, setting a fresh all-time high as capital continues to pour into the asset from an increasingly institutional class of buyers.
BTC rose nearly 3.5% to touch $111,878 during Asian morning hours, CoinGecko data shows, lifting overall market capitalization 1.7%. Major tokens from xrp to showed little movement
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The demand isn’t just coming from crypto-native funds or retail traders. Publicly listed companies increasingly treat BTC as a treasury asset, using capital markets to raise cash and buy more of the token.
“We think that large institutions are driving Bitcoin’s rally,” said Jeff Mei, COO at BTSE, said in a Telegram message. “This trend will likely continue, especially as more companies tap public markets and ETF inflows remain strong. May alone saw $3.6 billion in net ETF demand.
”Options traders have taken note. Contracts for $110,000, $120,000 — and even $300,000 — expiring in late June currently hold the most open interest on Deribit, suggesting traders are positioning for more upside before summer ends."
After years of public skepticism, JPMorgan Chase reportedly offers clients access to bitcoin, signaling a deeper shift in how traditional finance views crypto exposure.
“As the largest bank in the U.S., its decision adds a new layer of legitimacy to Bitcoin, potentially nudging other traditional financial institutions toward similar offerings to avoid falling behind,” said Ryan Lee, chief analyst at Bitget Research, in a message to CoinDesk.
Despite macroeconomic headwinds, including rising bond yields, geopolitical noise, and a downgraded U.S. credit rating, bitcoin has shown “remarkable resilience,” said QCP Capital in a Thursday note.
“A breakout to new highs could ignite a fresh wave of FOMO,” they added, “dragging in sidelined retail capital and pushing prices even higher.”
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BlackRock exec says 1% crypto allocation in Asia could unlock $2 trillion in new flows
During a panel discussion at Consensus in Hong Kong, Peach pointed to massive capital pools in traditional finance as ETF adoption spreads across Asia.
What to know:
- Even a 1% crypto allocation in standard portfolios across Asia could translate into nearly $2 trillion of inflows, highlighting how modest shifts in asset allocation could transform the digital asset market, according to the head of APAC iShares at BlackRock, Nicholas Peach.
- BlackRock's iShares unit, whose U.S.-listed spot Bitcoin ETF IBIT has rapidly grown to about $53 billion in assets, is seeing strong demand from Asian investors as ETF adoption accelerates across the region.
- Regulators in markets such as Hong Kong, Japan and South Korea are moving toward broader crypto ETF offerings, but industry leaders say investor education and portfolio strategy will be critical to channeling traditional finance capital into digital assets.
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