Bitcoin breaks $110K for the first time, marking a major psychological milestone. The rally has sparked a fresh wave of demand from U.S. traders in both spot markets and investment products.
This renewed buying interest suggests that the top cryptocurrency may be on track for even higher price levels in the short term.
Surge in U.S. Bitcoin Interest
As Bitcoin’s price soared on Wednesday, the Coinbase Premium Index (CPI) spiked to its highest level in 24 days, according to CryptoQuant. The CPI tracks the price gap between Bitcoin on Coinbase (U.S.) and Binance (global). When the index rises above zero, it signals strong demand from U.S.-based investors.
The latest spike shows that buyers in the U.S. are willing to pay a premium for Bitcoin, further reinforcing bullish momentum.
Bitcoin ETF Inflows Hit $609M
Fueling the uptrend, Bitcoin spot ETFs saw massive inflows of $609 million on Wednesday. That’s an 85% jump from Tuesday’s $329 million inflow and marks the sixth consecutive day of positive net flows.
This inflow trend highlights increased confidence from both retail and institutional investors in regulated Bitcoin products.
BTC Price Outlook: More Upside Ahead?
At the time of writing, Bitcoin trades at $111,139, just slightly below its new all-time high of $111,888. Although it’s down 1% from the peak, buying pressure remains strong.
Technically, the Chaikin Money Flow (CMF) indicator stands at +0.30, signaling continued capital inflow. If momentum holds, Bitcoin may soon set a new record.
However, if selling pressure increases, BTC could drop toward $103,882, a key support level to watch.
