PANews reported on May 23rd that Bybit, the second-largest cryptocurrency exchange globally, shared exclusive insights from its derivatives head Shunyet Jan regarding Bitcoin hitting a historic high. Shunyet stated that this historic rise is the result of multiple market catalysts and macroeconomic changes, and predicted that Bitcoin still has room for further growth if the current trend continues. "Bitcoin's historic high marks a significant transformation in the global financial landscape," Shunyet said. "We are witnessing a rare resonance of regulatory clarity, institutional capital inflow, and macroeconomic changes, accelerating mainstream adoption."
Shunyet pointed out that Bitcoin's rise was primarily driven by three key factors: ①Stablecoin regulation becoming clearer: "A series of comprehensive legislations, including the GENIUS bill, established a more transparent regulatory framework for stablecoins. This enhanced institutional confidence and laid the foundation for large-scale cryptocurrency application." ②Continuous inflow of spot Bitcoin ETF funds: "Continuous capital inflow into Bitcoin spot ETFs indicates that institutional investors are treating Bitcoin as a mainstream asset class. Such products provide a regulated investment entry point, releasing new liquidity sources and long-term demand." ③US dollar weakening and inverse correlation: "As a global asset, Bitcoin is particularly sensitive to macro trends. With the US dollar weakening, Bitcoin is benefiting from its 'digital gold' value storage role, further consolidating its position."
Despite Bitcoin leading this market rally, Shunyet maintains a cautiously optimistic view of the overall crypto market: "Ethereum and other large-cap crypto assets are likely to benefit from Bitcoin's momentum," he added. "However, the current high-interest-rate environment and ongoing macroeconomic uncertainty might limit the growth potential of small Altcoins in the short term." Looking forward, Shunyet boldly predicts: "If the current trend persists, our analysis suggests Bitcoin could reach $125,000 by the end of the second quarter. We remain confident in Bitcoin's core role in the future financial system." Bybit will continue to provide a trustworthy, high-performance trading platform for retail and institutional users, helping them enjoy advanced trading tools and deep liquidity markets.
