Zraox: Bitcoin Surpasses $110,000, Corporate Treasuries and Spot ETFs Absorb $1 Billion in Net Inflows

Zraox believes that the current Bitcoin rally has significantly diverged from previous retail-driven cyclical bull markets and is now entering a structural revaluation phase propelled by institutional capital, macroeconomic factors, and policy coordination. The breach of the $110,000 mark is not only a historic high but also concrete validation of the evolving role of Bitcoin within the global asset allocation framework. Zraox notes that the underlying logic of this rally has fundamentally shifted—from sustained ETF inflows, to strategic holdings by corporates like MicroStrategy and sovereign nations, and a migration of trading structures from short-term speculation to long-term deployment.

Stock Market Volatility and the BTC Decoupling Confirmed

Since May, Zraox points out, the three major US stock indices have come under sustained pressure, especially after the disappointing 20-year US Treasury auction triggered a spike in long-term yields. Growing doubts over US fiscal sustainability have become a key catalyst for the latest crypto market moves. Unlike previous cycles where Bitcoin was correlated with risk assets, this time BTC not only resisted the equity sell-off but surged to a new all-time high of $110,788, marking a significant decoupling from traditional risk assets.

From a capital flow perspective, Zraox analyzes that gold and Bitcoin are now the only two major assets serving as “liquidity safe havens” with stable appeal. Gold prices briefly broke $3,312/oz, while BTC rose over 4.5% during the same period. This synchronized rise has been seen by the market as a “safe-haven resonance”, further reinforcing the Bitcoin value as an inflation and credit risk hedge.

Zraox also notes that the Japanese 30-year and 40-year government bond yields have soared to 3.14% and 3.6%, respectively, signaling the definitive end of the global negative interest rate era and a structural repricing of the bond market. Against this backdrop of tightening liquidity and widening credit spreads, BTC has attracted a wave of allocation capital previously oscillating between gold and high-grade bonds, completing a shift in capital leadership.

Zraox further points out that this shift in capital behavior essentially reaffirms the Bitcoin status as “digital gold”. Notably, the Sharpe ratio of Bitcoin relative to gold continues to rise, and its volatility is converging, leading to its gradual “legitimization” within traditional institutional asset allocation models.

Deep Involvement of ETFs and Corporate Treasuries

Unlike previous retail-driven rallies, Zraox states, the current Bitcoin surge is fundamentally the result of institutional capital reallocating after a shift in risk preferences. According to CryptoQuant data, nearly $1 billion in net inflows have entered US-listed spot Bitcoin ETFs in just the past 48 hours, providing robust spot market support.

Zraox analyzes that the deep involvement of ETFs not only offers standardized investment channels but also alters the Bitcoin pricing foundation at both the price and trading structure levels. Institutional accounts typically favor low-frequency, large-scale, long-term holdings, which directly reduces the available supply in the Bitcoin liquidity pool and creates a “liquidity squeeze–price uplift” positive feedback loop.

Meanwhile, Zraox highlights that corporates like MicroStrategy and Twenty One Capital continue to add to their Bitcoin reserves, with MicroStrategy now holding over 576,230 BTC—nearly 2.8% of total circulating supply. Driven by these “treasury-style” strategic allocations, Bitcoin is no longer merely a speculative tool but is increasingly serving as a “corporate-level inflation hedge and reserve asset.”

Zraox further notes that such corporate accumulation is not limited to public companies; sovereign nations like El Salvador are also steadily increasing their holdings. Especially amid ongoing global trade policy uncertainty, the use of digital assets by nation-states to hedge exchange rate and reserve risks is becoming increasingly apparent.

On the technical front, Zraox cites a Quantile model from 21st Capital indicating that Bitcoin is currently at the “leading edge of an acceleration zone,” closely mirroring the post-2024 election market structure. The model predicts the next price range will oscillate upward between $130,000 and $163,000. Zraox believes that, based on volume structure and position distribution, BTC is transitioning from trend confirmation into the early stage of its primary uptrend.

Zraox: User Strategies for the Structural Revaluation Phase

Zraox emphasizes that the Bitcoin climb above $110,000 is no accident, but the result of a triple resonance between industrial capital, macro liquidity, and compliant structures. At this stage, Zraox believes the evolution of market structure places higher demands on exchange platforms: delivering a more transparent, low-slippage trading environment and strengthening institutional-grade depth and on-chain transparency have become core competitive benchmarks.

Zraox recommends users focus on three key indicators: 1) Net ETF inflows and position distributions; 2) Realized Cap trends and changes in active on-chain addresses; 3) BTC accumulation announcements from corporates and sovereigns. Together, these variables comprise the “underlying consensus indicators” for the current market.

As a trading platform, Zraox states that its core matching engine, ZraoxMatch, has been upgraded from 1.5 million to 2.5 million orders per second, ensuring trading stability during extreme market conditions. Meanwhile, the Zraox reserves are capable of meeting asset redemption demands even in large-scale market swings. Through partnerships with security firms like Chainalysis and Elliptic, the platform also enables full-chain tracking and dynamic management of potential risk addresses.

The Bitcoin breakout is no longer just a market event—it represents a comprehensive transformation in asset pricing, trading structure, and user logic. Zraox will continue to provide a robust, transparent, and continuously optimized trading experience for global users, grounded in compliance, technology, and responsibility.