Bitcoin Rockets To Record Highs Amid Trump's Commitment And Sweden's Corporate Treasury Move

Bitcoin (CRYPTO: BTC) is trading at $110,998.17, lower than its intraday peak of $111,970, and higher than its low of $110,293. Over the last 24 hours, the token has seen a 0.43% gain, and a 7.2% surge over the past week. Record ETF inflows, Trump's renewed crypto support, and fresh corporate adoption in Sweden are fueling BTC's bullish momentum.

Bitcoin's on-chain dynamics have shifted from the selling pressure seen earlier this year. From January and April, as prices fell from a peak of $109,000 to $75,000, most investors were scaling down their holdings.

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According to Glassnode's Accumulation Trend Score, a noticeable shift is evident, with a surge to 1.0 suggesting steady accumulation in the market. 

Traders are positioning for continued upside with open interest concentrated at $300,000 and $200,000 for June call strikes options, indicating strong bullish conviction.

President Donald Trump tweeted en route to a crypto-focused dinner in Loudon County, Virginia, affirming his commitment to the crypto space. He stated that the U.S. is dominating in cryptocurrency, Bitcoin, and more. Trump underscored the nation’s determination to keep the leadership, declaring, "We are going to keep it that way."

Separately, Swedish healthcare firm, H100 Group AB, has emerged as one of the first publicly listed health companies to add Bitcoin to its balance sheet. The firm disclosed a purchase of 4.39 BTC at 138737 NOK as a part of its Bitcoin Treasury Strategy.

According to Whale Alert, Coinbase received a total of 6016 BTC on Thursday from multiple unknown wallets. The transfers occurred in 1 separate sequential transaction with almost identical amounts. Eleven transactions moved 463 BTC each, while the remaining two involved 462 BTC and 461 BTC, respectively, all within a matter of hours.

Over $3.3 billion in Bitcoin and Ethereum (CRYPTO: ETH) option contracts are expiring today, with a total open interest of 25,438 contracts, slightly down from last week's 26,543. The put-to-call ratio stands at 1.22, indicating bearish sentiment among traders.

Analyst Ali Martinez reported that Bitcoin is forming a golden cross on the 4-hour chart. The true value lies in the earlier pressure zones, like the $74,439 to $79,000 range, which are the key accumulation areas where buying began before the golden cross appeared.

Bitcoin has surged to a fresh all-time high, with the rally beginning from a support zone near $105,000. BTC cleared the $108,000 resistance before pushing past $110,000. The bulls pushed further, breaking the $111,500 barrier, and peaking close to $111,800.

If Bitcoin breaks through key resistance at $112,000, it could target new highs at $113,200 and beyond.

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