Bitcoin Breaks Record High, Derivatives Traders Remain Neutral

Bitcoin surged past its previous all-time high in both USD and USDT markets on Wednesday, extending gains to reach $111,880 on Thursday. Analysts attribute this surge to expanding DeFi applications and increasing institutional interest, however, the reaction among derivatives traders has been muted compared to past rallies. While Bitcoin’s breakout failed to ignite widespread euphoria, altcoins are showing positive momentum in the top 50 by market capitalization.