Bitcoin Holds Near $110,000 Ahead of Las Vegas Conference

Bitcoin (BTC) is currently trading in a tight range near $110,000 as traders prepare for potential volatility ahead of the upcoming Bitcoin Conference in Las Vegas. The event, scheduled from May 27 to 29, has short-term traders exercising caution, while institutions continue to support the market with robust demand for Bitcoin ETFs.

This period of relative stability is significant for Bitcoin Pepe, a rising memecoin project that is nearing its first major centralized exchange (CEX) listing. As BTC trades within a narrow band and profit-taking from recent gains begins, new narratives like Bitcoin Pepe are attracting retail investors, with only four days left in its presale.

BTC’s current trading range between $107,000 and $110,000 reflects a wait-and-see sentiment, according to market insights. While equities pushed higher last Friday, Bitcoin remained largely unmoved, signaling investor hesitation ahead of potential headline risk from the ongoing Bitcoin Conference. Implied volatility remains elevated, underscoring the market’s sensitivity to political developments and unexpected announcements.

Traders appear to be trimming exposure again, as open interest in perpetual futures dips and funding rates normalize. Retail activity is also cooling, with high-profile traders scaling back positions and short-dated downside protection gaining demand. Despite this caution, institutional appetite for Bitcoin remains firm, providing a strong tailwind that continues to support the broader market structure.

Bitcoin recently surged past $111,800, marking a significant rebound of over 50% from the April lows. This rally was primarily driven by strong inflows into spot Bitcoin ETFs, rising institutional demand, and a notable absence of retail euphoria. However, this market behavior mirrors previous bull cycles, where sharp upward moves were often followed by a consolidation phase.

This consolidation is necessary to reset leverage and allow the market to stabilize before the next leg higher. Key support now lies around the short-term holder cost basis of $95,000, a level that could be tested if short-term selling accelerates. Over $11.4 billion in realized gains among short-term holders in the past month signals potential supply pressure that could weigh on price in the near term. Nonetheless, the market’s long-term trajectory remains intact, especially with institutional adoption accelerating.

Publicly listed firms have collectively acquired more than 8,800 BTC in recent weeks, highlighting growing corporate confidence in Bitcoin’s value proposition. Amid this broader market context, Bitcoin Pepe is rapidly gaining attention as its presale nears the finish line with only four days remaining. The project, which fuses memecoin culture with Bitcoin’s brand strength, has positioned itself as one of the most anticipated token launches of the season.

Bitcoin Pepe has already seen substantial gains throughout its presale, with its token price increasing by more than 71% from its initial valuation of $0.0210 to the current price of $0.0377. Each presale stage has delivered consistent appreciation, and with just days to go, many investors are eyeing the final opportunity to enter before the token lists on major CEX platforms. Notably, given the current price of BTC and the heightened visibility of the Bitcoin Conference, Bitcoin Pepe’s listing could coincide with a wave of renewed retail interest.

As memecoins continue to outperform in speculative phases of the market, Bitcoin Pepe stands to benefit from both narrative momentum and strategic timing. Market participants see the project’s dual leverage—a strong association with Bitcoin and viral meme appeal—as key ingredients for explosive post-listing performance. As a result, this window presents what could be a compelling entry point, especially for investors who missed earlier memecoin cycles or those seeking exposure to new projects during BTC’s consolidation.