{"id":28080,"date":"2025-05-22T12:16:53","date_gmt":"2025-05-22T12:16:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28080"},"modified":"2025-05-22T12:16:53","modified_gmt":"2025-05-22T12:16:53","slug":"crypto-daybook-americas-all-signs-point-up-as-bitcoin-hits-record-high","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28080","title":{"rendered":"Crypto Daybook Americas: All Signs Point Up as Bitcoin Hits Record High"},"content":{"rendered":"
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By Francisco Rodrigues (All times ET unless indicated otherwise)<\/p>\n

Bitcoin BTC surpassed Wednesday’s record to reach an all-time high of $111,875 in the early hours of Thursday, according to the CoinDesk Bitcoin Price Index<\/a>, as traditional financial markets contended with rising bond yields and renewed concerns over ballooning U.S. debt.<\/p>\n

The largest cryptocurrency has gained around 3.8% in the last 24 hours while the broader CoinDesk 20 CD20 index rose 4.74%, continuing a trend of strength driven by mounting institutional demand and growing interest in crypto exposure.<\/p>\n

The rally is unfolding against a backdrop of higher yields on U.S. and Japanese government bonds. The 10-year U.S. Treasury yield rose to 4.6%, while the 30-year topped 5%, driven by concerns over President Donald Trump\u2019s tax bill that analysts estimate could add as much as $5 trillion<\/a> to the country\u2019s debt, according to Reuters.<\/p>\n

In Japan, yields on 30- and 40-year government bonds also hit record highs. The country\u2019s debt-to-GDP ratio stands at 234%, QCP Capital said<\/a>, and growing scrutiny coupled with weak demand for long-dated JGBs sent yields soaring.<\/p>\n

That matters because higher yields \u2014 and thus higher returns \u2014 on investments that are considered relatively safe tend to lower the appeal of riskier assets like stocks, not to mention cryptocurrencies. While BTC, with its history of trading as a risky asset, hasn’t shown much sign of ebbing demand, it raises the question of how long the rally can continue.<\/p>\n

Still, traders have been building large long positions<\/a> in BTC options, with the most open interest now concentrated at the $110,000, $120,000 and even $300,000 calls for contracts expiring in late June in a sign of continuing bullish conviction.<\/p>\n

U.S.-traded spot bitcoin exchange-traded funds have also been seeing significant demand. Total net inflows hit $1.6 billion over the week, and $4.24 billion so far in May, SoSoValue data <\/a>shows. The inflows, coupled with bitcoin\u2019s price rise, have seen the ETFs’ total net assets hit a record $129 billion.<\/p>\n

There are, however, some muted signs of bearish activity.<\/p>\n

\u201cThe largest block flow this week continues to be ETH December call spreads, while overnight BTC butterfly positions hint that some traders are positioning for consolidation around current levels,\u201d Wintermute OTC trader Jake O. said.<\/p>\n

Note, he’s talking about consolidation, not declines. And traditional participants may even be too bearish. While the U.S. endured a recent credit downgrade, markets are now pricing in a 6-level cut<\/a> all the way down to BBB+.<\/p>\n

On top of that, per Jake O., a recent equities market sell-off may not be a result of repositioning given higher bond yields, but rather profit-taking after nine consecutive positive sessions. Stay alert!<\/p>\n

What to Watch<\/strong><\/h2>\n