- Bitcoin prices approach their all-time high, staying just 1.5% below the previous record.
- Ethereum, Solana, Litecoin, Cardano, and XRP also show upward momentum.
- BTC futures open interest rises by 10.65% to $74.35 billion, led by Binance with $12.28 billion.
- U.S. spot Bitcoin ETFs record five consecutive days of net inflows, totaling $41.7 million on the latest day.
- Texas passes legislation to allow state investment in Bitcoin, pending governor approval.
Bitcoin continued its upward movement, nearing its previous record high as of May 21, 2025. The cryptocurrency held steady at around $109,100, just 1.5% below its all-time peak. Other major cryptocurrencies, including Ethereum, Solana, Litecoin, Cardano, and XRP, also recorded price gains during the same period.
BTC futures open interest increased by 10.65% from the previous week, reaching $74.35 billion. Binance led with $12.28 billion in open interest, indicating a rise in leveraged trading activity in the market. The overall market capitalization for Bitcoin stood at $2.12 trillion, while daily trading volume was $50.38 billion.
“The crypto market remains in a consolidation phase, with Bitcoin repeatedly testing the $106,000 level but facing resistance, while Ethereum struggles to sustain above $2,700,” said Himanshu Maradiya, Founder and Chairman of CIFDAQ. The CoinDCX research team noted, “Despite a small drop in the volume, the markets have surged, which indicates a drop in the bearish interference.”
U.S. spot Bitcoin ETFs logged net inflows of $41.7 million on the latest day, maintaining five straight days of positive inflows, according to the Coinswitch team desk. Ethereum consolidated with a rise of 0.30%, trading at $2,564.52. XRP traded higher at $2.37.
The CoinDCX research team mentioned potential significant developments on the horizon, including rumors that Coinbase might acquire USDC issuer Circle, aside from Circle’s ongoing IPO plans. Additionally, Texas has passed the Texas Strategic Bitcoin Reserve and Investment Act, setting up legal grounds for state investment in Bitcoin. The bill now awaits the governor’s approval.
Further updates and detailed market news can be found on the latest market trends, stock updates, tax information, banking finance, and related topics.
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