Bitcoin hits $110K all-time high amid institutional demand and record leverage
Daily top performer — Bittensor (TAO)
The S&P 500 fell 1.61% on Wednesday as rising Treasury yields and deficit concerns weighed on markets. Investors await jobless claims data for further economic insight. Gold jumped 1.5% to $3,289 after Moody’s downgraded the US credit rating, boosting safe-haven demand. Despite high yields, global rate cuts support a rally toward $3,300. The Coindesk Indices, which tracks the broader crypto market, rose 2.60%, with Bitcoin up 1.51% and Ether down 0.26%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
Today’s top performer is TAO, up 10.7% after Chutes showcased scalable AI on Bittensor, processing 90 billion tokens daily.
Bittensor (TAO), founded in 2019, is a decentralized AI network where miners provide ML models and earn TAO from clients using them. Models compete for accuracy, and top performers get more rewards. It now runs on its own blockchain optimized for ML. Rayon Labs highlights that large-scale AI is already live on Bittensor through Chutes, which processes around 90 billion tokens daily, serving real users and applications globally.
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Talk of the town
Bitcoin surged past $110,000 for the first time, hitting a new all-time high of $110,789 after a 3% daily gain. It’s up 17.5% year-to-date and 47% since April’s dip. The rally is driven by institutional demand amid weak retail interest, with analysts projecting further gains. Meanwhile, a record $1.1B leveraged long position underscores rising confidence in the market.
Check out the latest prices, charts, and data of BTCUSDT perp and BTC/USDT spot contracts!
Bitcoin spot ETF flows
Category | Flow (millions) |
GBTC | 0.0 |
Non-GBTC | 76.5 |
Total | 76.5 |
Yesterday, Bitcoin spot ETFs saw $76.5M in total inflows, all from non-GBTC funds, while GBTC recorded no flow.
Check out the latest prices, charts, and data of BTCUSDT perp and BTC/USDT spot contracts!
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