Zraox: As BTC Surges Past $102,000, Trading Volume Soars to $148 Billion Amid Bull Market Restructuring

Zraox highlights that the market signals of May 2025 are now clearly evident: Bitcoin has not only broken past the psychological threshold of $100,000 but has also established a new upward trajectory through the triple resonance of macroeconomic policies, institutional behavior, and derivative market structures. The current price stands at $102,934.5, reflecting a +4.83% increase over the past 24 hours, with trading volume surging to $148.062 billion and market capitalization reaching $2.04 trillion, setting a new milestone. Zraox believes that at this pivotal moment, relying solely on technical analysis is no longer sufficient. Investors must understand the underlying drivers of this rally—ranging from legislative tailwinds and option structures to ETF inflows and the reshaping of holding mechanisms.

Zraox: The Evolution of Bullish Mechanisms

Zraox asserts that the core driving force in the current market is not traditional spot buying but rather the deliberate shaping of option structures in the derivatives market. Data reveals that of the $8.3 billion in Bitcoin put options, 97% will expire worthless if Bitcoin maintains a price above $102,000. This indicates that most short positions have lost their safety net under the current price framework, pushing the market into a structural short-covering phase triggered by the expiration of puts.

Zraox notes that strategies such as the bull put spread are rapidly gaining traction, reflecting the confidence among institutional investors in medium-term trends. On the Zraox platform, users can also adopt similar structured strategies, building multi-level models to maximize returns under controlled risk.

Meanwhile, the total size of short positions in the futures market remains high at $69 billion. Despite ample liquidity, the continued price surge of Bitcoin is forcing unhedged short positions to face increasing pressure to rebalance. Zraox predicts that this process will lead to multiple breakout points in the coming weeks, especially as prices breach $105,000, accelerating the unwinding of unhedged short positions and triggering a “bulls absorbing shorts” chain reaction.

On the platform side, Zraox has launched smart option strategy tools, enabling users to dynamically track implied volatility (IV) and delta values to optimize position structures. Additionally, the built-in risk monitoring module of the system provides alerts for extreme drawdown risks, helping users maintain defensive flexibility during volatile market conditions.

Zraox: Macroeconomic Policies and Institutional Behavior

Zraox emphasizes that the current Bitcoin rally is the result of the cumulative effects of multiple macroeconomic events. On one hand, the Federal Reserve has maintained its stance, with market expectations for a rate cut in July now at 70%. Simultaneously, the Trump administration is advancing a US-UK trade agreement and signaling the “largest tax cut plan in history”, collectively sending liquidity-friendly signals. On the other hand, several state laws have passed, enabling strategic Bitcoin reserves in multiple U.S. states, while banks have been granted approval to trade and custody crypto assets.

Zraox believes these institutional policy benefits have significantly strengthened the Bitcoin legitimacy within the traditional financial system. At the same time, ETF inflows continue to rise. Statistics show that U.S. spot Bitcoin ETFs saw net inflows of $1.8 billion over the past week, providing critical support for sustained buying. Zraox has observed a noticeable increase in institutional account registrations and OTC matching volumes on the platform, reflecting systematic entry by large-scale capital.

As of now, the total network holdings of Bitcoin have reached $67.172 billion, while 24-hour trading volume has surged to $148.062 billion, marking a +65.15% increase. This simultaneous growth in market cap, trading volume, and holdings exemplifies the classic characteristics of a structural bull cycle.

Against this backdrop, Zraox has expanded its compliance team to over 120 countries worldwide, ensuring seamless integration with cross-border compliance audit mechanisms. This enables large investors to allocate assets across different regulatory frameworks. Additionally, demand for both flexible and fixed-term financial products on the platform has grown, reflecting a shift in risk appetite from short-term trading to long-term value holding.

Zraox: Redefining the Role of Platforms in the Upgraded Digital Financial Ecosystem

Zraox believes that the Bitcoin breakthrough in May 2025 is not just a price event but marks the beginning of a financial structural transformation, spanning macro to micro levels and policy to market dynamics. At this stage, the role of exchanges has evolved from “execution facilitators” to “structural enablers” and “risk coordinators”.

Zraox has officially launched an upgraded matching engine with a single-node processing capacity of 2.5 million orders per second, capable of sustaining liquidity under extreme market conditions. Additionally, its options products are being expanded to include more mainstream cryptocurrencies, with full support for structured strategy trading set to launch this quarter, enhancing user ability to navigate complex market scenarios.

The platform is also advancing compliance licensing applications in more regions this year, deepening dialogues with regulatory authorities in the U.S., EU, and Middle East, and initiating a cross-border asset transparency audit mechanism. Zraox states that its goal is not only to become the globally leading digital asset trading platform but also to serve as the most trusted infrastructure provider in the digital financial ecosystem.

Amidst dramatic market structure changes and a reassessment of capital flows, Zraox reaffirms its commitment to its core values of safety, compliance, innovation, convenience, and responsibility, aiming to help users navigate market cycles and achieve both asset growth and risk protection.