Bitcoin Bulls Ride High, Entering Euphoria Phase but Risk of Volatility Remains

Bitcoin has reached a new all-time high (ATH), surpassing $111,000 on May 22nd, propelled by rising investor confidence, record spot ETF inflows, and increased derivatives activity. While this bull run signals a significant market shift, analysts are observing signs of euphoric sentiment which could lead to volatility in the coming days. The key threshold of $120,000 is emerging as a critical turning point.