Bitcoin's Surge and Institutional Moves Fuel Bullish Sentiment

Bitcoin has surged remarkably since April lows, exceeding $110,000 and smashing all-time highs with a 47% increase. The overall market capitalization has risen to $3.51 trillion, with trading volumes surpassing $171 billion, indicating strong bullish momentum. Large holders, or whales, have accumulated over 25,000 BTC within a 24-hour period, demonstrating strategic positioning by prominent investors. Coinbase's inclusion in the S&P 500 index has contributed to a 13% increase in its stock price, highlighting institutional confidence. Meanwhile, the GENIUS Act's passage in the Senate signals promising developments for stablecoins, potentially bringing USD-backed digital currencies into future legislation. XRP's futures ETF has gone live, marking its entry into mainstream finance with a Nasdaq listing. However, the ecosystem faced a setback with a $260 million exploit on Cetus Protocol, causing a 15% decline in SUI price. Furthermore, Coinbase experienced a data breach with a $20 million bounty offered to identify insider hackers. Institutional investors continue to favor Bitcoin, with Semler investing $50 million, and BlackRock's ETF attracting record inflows, emphasizing persistent institutional interest. Market sentiment remains highly bullish, as indicated by a greed index reading of 72, reflecting increased FOMO and market exuberance.