Key takeaways:
Bitcoin is stuck below $110,000 due to macroeconomic uncertainty and Nvidia’s earnings cap risk appetite.
Strong spot BTC ETF inflows and Bitcoin options data are hints that US economic clarity could unlock BTC highs.
Investor sentiment improved on May 26 after US President Donald Trump postponed his retaliatory European Union 50% tariffs on imports. European stock markets responded positively to the development, but Bitcoin (BTC) was unable to hold the $110,000 level, leading traders to question whether a new all-time high remains within reach.
Even if Bitcoin revisits the $105,000 mark, rising institutional interest and robust derivatives markets indicate that bullish traders are neither overleveraged nor concerned about a potential correction.
Bitcoin 2-month futures annualized basis rate. Source: laevitas.ch
Demand for leveraged long Bitcoin positions grew, as evidenced by the BTC futures premium increasing to 8% on May 26. Although this was a modest rise from 6.5% the