Bitcoin: behind $100,000, major challenges

The $100,000 mark for Bitcoin, this vibrant dream of enthusiasm among fans of the flagship crypto, raises as many hopes as it does questions. While this milestone appears to cap a decade of growing adoption, it also raises challenges in the financial derivatives ecosystem. Institutions and regulations will play a key role in this progress, but their implications, between opportunities and tensions, deserve to be explored. Let's decipher together the issues behind this long-awaited milestone.

Derivatives Markets Challenge Bitcoin to $100,000

Reaching $100,000 for the price of BTC could disrupt derivatives marketswhere the current open interest already stands at $58 billion (626,520 BTC). Such progression could increase this indicator to 62.5 billionor 3.1% of the potential $2 trillion market capitalization for Bitcoin.

A rate that surpasses the 1.9% observed in the S&P 500 futures markets.

However, the cryptocurrency ecosystem remains mostly isolated from traditional financial channels : 65% of exchanges take place on exclusively crypto platforms such as Binance, OKX or Deribit. A major development could occur with the arrival of spot Bitcoin ETFs, allowing sophisticated strategies such as covered calls or liquidity risk hedging.

However, precedents show that regulation does not always guarantee adoption. For example, CBOE's Bitcoin futures contracts were abandoned after just two years due to lack of demand.

To truly anchor Bitcoin at this symbolic level, will require robust institutional adoption and financial tools that speak to bankers as much as traders.

Crypto adoption: when institutions and governments get involved

Behind the $100,000 symbol lies a broader transformation : the alignment of institutions and even governments on the potential of Bitcoin. Initiatives such as Senator Cynthia Lummis' bill, aimed at creating a strategic reserve of Bitcoin with 5% of the total supply (1 million BTC), show that institutional integration is no longer limited to banks alone.

Let's add to this encouraging signs : Microsoft could soon invest in Bitcoin according to its shareholders, a step that could influence other market giants.

At the same time, investors continue to protect against fiat currency devaluation. Lyn Alden's research corroborates this dynamic: the link between the increase in global money supply (M2) and the price of Bitcoin shows that BTC is becoming a refuge from monetary uncertainties.

• $58 Billion: Current Bitcoin Derivatives Open Interest;
• 5% of the total Bitcoin supply: the potential target of the strategic reserve;
• 65%: share of crypto exchanges carried out on dedicated platforms.

Thus, by talking about adoption, the CEO of X10 is already pointing out avenues: conquering the general public through strategies to attract exchanges (DEX, CEX and hybrids). Once the recipe is implemented, 100 million additional investors could join the crypto universe, giving new life to its global growth.