Bitcoin Clings to $105K Backed by Institutional Buying and Record Derivatives Activity

Bitcoin posted a nearly 2% gain in the past 24 hours, reaching as high as $107,000. Institutional investors drove much of the momentum through spot ETF purchases, while futures traders added further fuel to the price surge.

Volatility did its thing again—liquidations hit hard:

• A total of $221 million in liquidations was recorded—less severe than yesterday’s $650 million bloodbath,
• Shorts took the brunt of the hit, with $137 million wiped out compared to $83 million in longs,
• Interestingly, Ethereum led the charts with $76 million in liquidations, surpassing Bitcoin’s $60 million tally.

Market mood is modestly bullish:

• Fear & Greed Index: 68 – Greed territory
• BTC dominance: 63%
• Altseason Index: 26 – still Bitcoin season

Institutional interest hasn’t slowed down. Strategy (formerly known as MicroStrategy) made another crypto move, acquiring 7,390 BTC for nearly $765 million. Meanwhile, Japan’s Metaplanet boosted its Bitcoin treasury by 1,004 BTC (~$104.3 million), reinforcing its position as one of the largest public BTC reserve holders.

TC Holds Key Support Level

Bitcoin is holding above the psychologically important $105K level, which until recently acted as a strong resistance point. Yesterday’s daily close above it signals bullish intent, but sellers haven’t left the field. A looming bearish divergence on the daily chart could still challenge upward momentum.

If the rally breaks past the all-time high, the next milestone might be $116K.

Private investment firm Swissblock expects Bitcoin to maintain its bullish trajectory. While some analysts warn of a possible Double Top pattern forming, Swissblock disagrees, citing the resilience of the Bitcoin Fundamental Index (BFI), which showed no significant weakness even when BTC briefly dropped below $80,000.

Open interest in BTC futures just hit a fresh record—$72.6 billion across leading platforms—underscoring growing speculative momentum in the market.

• CME’s institutional desk saw a 4.8% bump, now totaling $16.9B.
• Binance followed with a 5.9% climb to $12.1B.
• WhiteBIT crypto exchange posted the sharpest percentage gain (15.49%), although OI remains modest at $1.95B.

Institutional Money Keeps Pouring Into Bitcoin

Spot Bitcoin ETFs in the U.S. recorded $667.4 million in net inflows on May 19, 2025, marking a robust start to the trading week. BlackRock’s IBIT led all issuers with $305.9 million, maintaining its 27-day streak of uninterrupted net inflows. All major products reported positive flow activity.

21Shares, an investment company, is bullish on Bitcoin’s trajectory, with a forecast of a potential climb to $138,500 by year’s end. The firm points to heavy institutional inflows and a shrinking supply pool as core drivers. Whether capital is flowing through Ethereum-based funds or private OTC desks, the effect is the same—less BTC on the open market and a stronger upward push on price.

Investors are pricing in a Fed rate cut down the line—even if Powell’s team is still playing it safe due to inflation. But while the Fed hesitates, the Bank of Japan and the ECB have already flipped to easing mode, adding fresh liquidity that’s helping fuel risk asset demand, including crypto.

Read on: The State of Crypto Regulation in 2025: Where the World Stands