{"id":27789,"date":"2025-05-21T05:46:53","date_gmt":"2025-05-21T05:46:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27789"},"modified":"2025-05-21T05:46:53","modified_gmt":"2025-05-21T05:46:53","slug":"bitcoin-sets-record-daily-close-with-110k-as-the-next-level-to-watch-for-btc","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27789","title":{"rendered":"Bitcoin Sets Record Daily Close With $110K as the Next Level to Watch for BTC"},"content":{"rendered":"<div>\n<p>Although bitcoin (BTC) can be traded 24\/7 its candles open and close daily similar to foreign exchange markets. The latest data from TradingView shows Tuesday&#8217;s candle ended (UTC) at $106,830, the highest-ever daily closing price.<\/p>\n<p>The bullish move came as <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/05\/20\/bitcoin-etf-inflows-surge-as-basis-trade-nears-9-signaling-renewed-demand\">investors poured money<\/a> into the spot exchange-traded funds (ETFs) amid chaotic price action in bond markets that suggested heightened <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/05\/20\/bitcoin-and-gold-in-sweet-spot-as-bond-markets-expose-the-u-s-fiscal-kayfabe-omkar-godbole\">concerns about the fiscal health<\/a> of major economies, including the U.S.<\/p>\n<p><a href=\"https:\/\/www.coindesk.com\/markets\/2025\/05\/14\/bitcoin-boom-likely-as-bond-yields-harden-yes-you-read-that-correctly\">Analysts told CoinDesk<\/a> last week that the worsening fiscal debt situation could bode well for BTC and other assets such as gold.<\/p>\n<p>The <a href=\"https:\/\/www.coinglass.com\/pro\/i\/coinbase-bitcoin-premium-index\">Coinbase Bitcoin Premium Index<\/a>, 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.<\/p>\n<p>With the uptrend in progress, the next key level to watch is $110,000. Data from Deribit&#8217;s BTC options market, tracked by Amberdata, shows dealers or market makers hold a large net &#8220;<a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/26\/bitcoin-market-could-heat-up-as-prices-approach-usd90k\">negative gamma&#8221;<\/a> exposure at the $110,000 level.<\/p>\n<p>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.<\/p>\n<p>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 <a href=\"https:\/\/www.coindesk.com\/markets\/2023\/11\/01\/bitcoin-could-go-crazy-above-36k-options-data-suggests\">dealer hedging adding to volatility<\/a> on several occasions.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/73c239cc40373c0b2d89432218fa4c79a878fb56-1498x1064.png?auto=format\" alt=\"BTC dealer gamma exposure at various strikes. (Deribit\/Amberdata)\" title=\"BTC dealer gamma exposure at various strikes. (Deribit\/Amberdata)\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Although bitcoin (BTC) can be traded 24\/7 its candles open and close daily similar to foreign exchange markets. The latest data from TradingView shows Tuesday&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27789","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27789"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27789\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}