Bitcoin Hits Record High Above $111K as Spot Market Buyers Dominate Amid Bullish CVD Reversal

Published: 2025-05-23 23:47:48 |

Bitcoin (BTC) has surged to a new all-time high above $111,000, reflecting renewed bullish momentum in the spot market. CryptoQuant data shows the Spot Taker Cumulative Volume Delta (CVD) turning positive after months of selling, signaling that aggressive buyers are now dominating and outnumbering sellers. This reversal marks a shift from earlier in the year, when negative CVD and selling pressure pushed BTC down to around $76,000. Institutional inflows, strong ETF demand, and robust spot market accumulation are supporting Bitcoin’s price, with notable buying interest including options positions at higher strike prices. Long-term holders are largely resisting the urge to realize profits, while funding rates remain neutral, pointing to a rally based more on physical accumulation than leveraged speculation. Short-term volatility persists, with analysts noting profits being taken at new highs, but both newer and established investors are refraining from panic selling. A $2.1 billion sale of Perpetual Preferred Stock by a major crypto strategy firm to acquire more BTC could serve as another bullish catalyst. As of the latest update, BTC trades near $108,553, having dipped slightly from its high, but spot market demand remains strong, suggesting the uptrend could continue.

Bullish

Bitcoin has hit a new record high above $111,000, driven by strong spot buying and a positive shift in the CVD indicator, signaling renewed bullish momentum. The return of aggressive buying, robust institutional and ETF inflows, spot-driven accumulation, and the absence of significant profit-taking by long-term holders all support a sustained bullish outlook. While some profit-taking and short-term volatility are present, underlying demand remains firm and leverage appears limited, reducing the risk of sharp corrections. The planned $2.1 billion investment in BTC by a major firm further strengthens the bullish case. Overall, both technical and fundamental factors point to continued upward price pressure.