Bitcoin has taken center stage in financial markets, drawing full attention from Wall Street, according to Professional Capital Management CEO Anthony Pompliano.
In a recent CNBC interview, he outlined three key drivers behind BTC’s latest surge beyond $110,000, marking a new all-time high.
Pompliano attributed the rally to a perfect storm of factors: massive ETF inflows, the end of Q2 options pressure, and a short squeeze.
He noted that spot Bitcoin ETFs saw a record $1.2 billion inflow in a single day last week, pushing total holdings above $140 billion. BlackRock’s fund alone now rivals the largest ETFs in the world, amassing nearly $90 billion since launch.
Meanwhile, the expiration of options contracts at the close of Q2 has lifted much of the recent selling pressure, helping BTC rebound. Simultaneously, short sellers have been forced to exit positions, fueling a rapid move into price discovery territory.
Pompliano didn’t offer a specific target but said Bitcoin’s breakout past $110,000 opens the door to significant upside. With the previous ceiling now behind, the asset is “making a big move,” he said, as Wall Street watches closely.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-becomes-wall-streets-main-attraction-says-anthony-pompliano/