Bitcoin Approaches Potential New Highs by Late Summer; Ether Surges 3% Following Optimistic Treasury Reports

Bitcoin steadies near $110K amid cautious optimism ahead of major crypto conference; Ethereum climbs 3% on institutional backing

Bitcoin (BTC) traded around $109,000 early Wednesday as investors anticipate a possible breakout to new highs by summer. Meanwhile, Ethereum (ETH) gained more than 3%, bolstered by renewed confidence in its long-term vision and increasing institutional engagement.

U.S. equities rallied after the Memorial Day weekend, with the Nasdaq rising 2%, supported by easing labor market worries and progress in U.S.-China trade relations. Stabilized Treasury yields and improved supply chain conditions further fueled risk-on sentiment across markets.

“Institutional players are increasingly adding crypto to their portfolios as a store of value,” said Kay Lu, CEO of HashKey Eco Labs. “Ethereum’s treasury initiative—similar to MicroStrategy’s Bitcoin approach—signals growing acceptance of digital assets as strategic reserves.”

Ethereum co-founder Joseph Lubin and ConsenSys revealed a $425 million PIPE funding round at SharpLink, earmarked to purchase ETH as the company’s treasury asset. The offering, expected to close May 29, will also see Lubin step in as chairman.

On the Bitcoin front, ETFs recorded over $385 million in fresh inflows, reflecting sustained institutional demand.

As the Bitcoin Conference in Las Vegas draws near, market participants brace for potential volatility. Keynote speakers such as JD Vance, Michael Saylor, and members of the Trump family have historically sparked sharp market moves.

“BTC remains confined between $107K and $110K, with volatility likely to spike during the event,” noted QCP Capital. “Last year’s conference saw a massive one-day volatility surge followed by a 30% price drop, so traders are cautiously positioned.”

Additionally, open interest in perpetual futures has eased, funding rates have normalized, and some retail traders are trimming their positions.

Despite short-term uncertainty fueled by political and macroeconomic factors, analysts remain optimistic.

“The underlying structure remains robust,” said Augustine Fan, SignalPlus head of insights. “Positive macro trends and strong technicals set the stage for Bitcoin to push higher this summer.”