Bitcoin has shattered records once again, soaring to an all-time high (ATH) of $111,000, marking a significant milestone in the cryptocurrency realm as of May 29, 2025. Amidst this surge, Texas has made a bold legislative move by passing a bill supporting Bitcoin, while the burgeoning field of Information Finance (InfoFi) is heating up, promising to reshape the digital asset landscape.
Bitcoin’s Ascendancy and Market Dynamics
Bitcoin’s meteoric rise to an ATH of $111k has stirred the crypto markets, with analysts attributing the surge to a confluence of factors. The digital currency is now on the brink of a ‘golden cross,’ a bullish signal last seen in October. This phenomenon, where a short-term moving average crosses above a long-term moving average, has historically precipitated upward price momentum. As explored in our recent coverage of Bitcoin Surpasses $95K Amid Resilient U.S. Stocks, analysts have voiced concerns over market perception, which could influence future price movements.
Deribit, a leading crypto derivatives exchange, has reported a record open interest (OI) in Bitcoin futures, now pegged at a staggering $42.5 billion. “The sheer volume of open interest suggests a strong conviction among traders,” noted crypto analyst Jamie Lerner. “However, the low funding rates on major exchanges indicate that we might not be out of the woods yet,” he cautioned.
Intriguingly, large-scale investors, colloquially known as ‘whales,’ are making waves. A hyperliquid whale recently expanded their Bitcoin holdings to an eye-popping $1.1 billion, signaling robust institutional confidence. This follows a pattern of institutional adoption, which we detailed in Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow. Yet, in an unexpected twist, miner activity suggests they offloaded significant Bitcoin holdings just before the ATH, perhaps cashing in on the rally.
Texas Embraces Bitcoin
In a landmark decision, Texas has passed a bill that embraces Bitcoin, aligning the state with the growing acceptance of digital currencies. The legislation is expected to pave the way for Bitcoin to be utilized more broadly within the state’s economy. “Texas is positioning itself as a hub for Bitcoin innovation,” remarked blockchain policy expert, Sarah Collins. “This move could attract a wave of crypto-centric businesses and investments to the Lone Star State.”
This legislative shift comes on the heels of Hong Kong’s recent stablecoin bill, underscoring a global trend of regulatory bodies warming up to the crypto revolution. Meanwhile, the InfoFi sector is gaining traction, promising to offer decentralized solutions that could disrupt traditional finance.
The InfoFi Battle and Emerging Trends
The InfoFi arena is witnessing a flurry of activity as platforms vie for dominance. A notable contender, IBIT, has surged into the top five for year-to-date inflows among all exchange-traded funds (ETFs), underscoring the sector’s growing appeal. Additionally, VanEck’s announcement of its private digital asset fund, set to launch in June 2025, hints at a burgeoning interest from traditional finance institutions in digital assets.
However, not all is rosy. The decentralized finance (DeFi) project Cetus on SUI recently suffered an exploit, raising questions about the security robustness of nascent platforms. In a related development, Synthetix’s recent $27 million derivatives deal has spotlighted the ongoing evolution of synthetic assets, which allow investors to gain exposure to real-world assets without owning them.
Looking Ahead
As the crypto landscape continues to evolve, the implications of these developments remain uncertain. Will Bitcoin’s rally sustain, or will it face resistance as it approaches new heights? And how will Texas’s bold legislative move influence the broader U.S. regulatory stance on digital currencies?
The unfolding InfoFi battle suggests a transformative period ahead for financial services, yet it also poses challenges regarding security and scalability. As investors and policymakers navigate these uncharted waters, one thing is clear: the world of cryptocurrency is as dynamic and unpredictable as ever, promising both opportunities and hurdles in equal measure.
As we move forward, the crypto community will undoubtedly keep a watchful eye on these developments, eager to see how they will shape the future of finance.
Source
This article is based on: BTC hits ATH, InfoFi battle begins, Texas passes BTC bill
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
