Bitcoin Soars Past $111K as U.S. Traders Take the Lead — But For How Long?

Bitcoin just crossed a historic milestone, briefly touching $111,980, and there’s a new force driving this rally, U.S. institutional power. From Wall Street giants to crypto-savvy politicians, the United States is taking center stage in Bitcoin’s latest bull run.

But it’s now a global race for control, and the two main players are the United States and China.

The U.S. Is Holding More Bitcoin Than Ever

Recent data from the on-chain analytical platform CryptoQuant shows that U.S.-based entities, including banks, exchanges, and funds, are now holding a bigger chunk of Bitcoin than the rest of the world.

This strong buying activity recently triggered a bullish chart pattern known as a golden cross on the U.S. to Rest Reserve Ratio chart, which often signals a potential price surge.

In the past, this type of signal marked the beginning of major uptrends. We saw it last year, and now it’s happening again. This shift is helping fuel the recent price jump, along with optimism over new U.S. crypto laws and growing interest from major names like Michael Saylor’s MicroStrategy, Tesla, Semler Scientific, and many more.

Meanwhile, the U.S currently holds overall 207,189 BTC worth around 22.99 billion.

Political Winds Are Blowing Bitcoin’s Way

There’s also growing political support for crypto in the U.S. As President Donald Trump recently voiced strong support for crypto, even saying he wants the U.S. to lead Bitcoin mining and become the “crypto capital of the world.”

Combined with new Senate talks around stablecoin laws, the U.S. is pushing hard to attract crypto innovation.

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Bullish Now, But Caution Ahead

While things look good now, CryptoQuant’s chart also highlights what could come next. The last two times this ratio formed a “death cross,” when the short-term trend drops below the long-term, Bitcoin took a hit shortly after.

So while it’s a party now, history says to keep an eye out.

China Is Still a Big Player

Even though the U.S is leading the race, but China quietly remains one of the biggest holders and miners of Bitcoin through indirect channels. While much of the trading is hidden or rerouted, China’s grip on mining and holding power is real, and the U.S. doesn’t want to be left behind.

Although China currently holds overall 194,000 BTC, worth around 21.53 billion.

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