Bitcoin is once again making headlines, as the world’s largest cryptocurrency inches closer to a historic price milestone. As of this morning, Bitcoin is trading just 2% below its all-time high, fueling optimism among crypto traders and investors alike.

Bitcoin was valued at approximately ₹107,666 (or $109,114), showing just a 1.5% gap from its previous peak. This surge comes during what many analysts describe as a “consolidation phase,” where the market is holding steady while preparing for potential major moves.

But Bitcoin isn’t the only digital asset climbing higher. Ethereum and several major altcoins, including Solana, Litecoin, and Cardano, are also showing signs of strength, with Ethereum currently trading at $2,564.52 after a 0.30% gain.

Market Signals Show Increased Leverage and Institutional Interest

One of the key indicators of growing momentum in the crypto space is the rising futures open interest. According to the latest data, Bitcoin futures open interest jumped by 10.65% over the past week, reaching a massive $74.35 billion. Binance leads the pack with $12.28 billion, highlighting a surge in leveraged trading activity.

This uptick in open interest suggests traders are becoming more confident—or perhaps more aggressive—in their expectations of continued price gains.

Adding to the bullish sentiment, institutional investors are increasingly jumping back into the market. U.S.-based spot Bitcoin ETFs saw net inflows of $41.7 million just yesterday, marking the fifth straight day of positive inflows. According to data from CoinSwitch’s market desk, this sustained buying pressure is a clear sign of growing institutional demand for crypto exposure.

Bitcoin’s Market Cap and Volume Paint a Bullish Picture

Bitcoin’s total market capitalization currently stands at $2.12 trillion, with a 24-hour trading volume of approximately $50.38 billion. This suggests strong liquidity and active participation from both retail and institutional players.

“The crypto market remains in a consolidation phase, with Bitcoin repeatedly testing the $106,000 level but facing resistance,” said Himanshu Maradiya, Founder and Chairman of CIFDAQ. “Ethereum, meanwhile, is struggling to stay above $2,700, but remains resilient amid broader market optimism.”

CoinDCX’s research team echoed this sentiment, stating, “Despite a slight drop in volume, the overall market movement is upward. This indicates a reduction in bearish pressure, and possibly the beginning of a broader rally.”

Ethereum, Solana, and Other Altcoins Follow Bitcoin’s Lead

Ethereum, the second-largest cryptocurrency by market cap, continues to see modest gains. With a current price of $2,564.52, Ethereum is consolidating as traders wait for clearer signals on its next big move.

Solana, Cardano, and Litecoin have also posted gains in the past 24 hours. Ripple (XRP), another major altcoin, was up to $2.37, indicating that bullish momentum is not limited to just Bitcoin and Ethereum.

Major Developments That Could Shake the Market

There’s more going on behind the scenes that could fuel even bigger moves in the coming weeks.

Rumors are circulating that Coinbase might acquire Circle, the issuer of USD Coin (USDC). This comes at a time when Circle is also reportedly preparing for an initial public offering (IPO). Such a deal could reshape the stablecoin landscape and consolidate power among major U.S.-based crypto firms.

In another groundbreaking move, the state of Texas has passed the Texas Strategic Bitcoin Reserve and Investment Act, a bill that would allow the state to invest in Bitcoin. This legislation, which still awaits the governor’s signature, could open the door to a wave of public-sector crypto investments across the U.S.

“These developments highlight how institutional, corporate, and even government interest in crypto is growing,” said the CoinDCX team. “If these trends continue, we could see a major breakout from current price levels.”

What Comes Next for Bitcoin?

While Bitcoin hasn’t yet broken its all-time high, the signs point to growing market confidence. With institutional inflows rising, leverage increasing, and regulatory interest heating up, many traders believe it’s only a matter of time before Bitcoin sets a new record.

However, experts urge caution. The market remains volatile, and while technical indicators are bullish, sudden reversals aren’t uncommon in the crypto world.

Still, with Bitcoin now just a few percentage points away from making history, the eyes of the financial world are once again firmly fixed on crypto.