KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Bitcoin is on fire. The world’s largest cryptocurrency blasted past $116,000, triggering massive short liquidations and a fresh wave of bullish bets in the options market — many targeting $120K, $140K, and even $150K by year-end.
According to Deribit data, open interest is clustering around key strike prices, showing growing confidence in the rally’s sustainability. Traders are snapping up long-dated calls expiring in September and December — with some clearly betting on institutional adoption to deepen.
Key Drivers Behind the Surge
✅ Institutional demand continues to rise, especially from newly formed crypto treasury companies aiming to load Bitcoin onto balance sheets.
✅ Bullish options activity with funding rates in perpetual futures staying firmly positive.
✅ Political tailwinds as President Trump’s pro-crypto stance energizes traders ahead of "Crypto Week" in Congress.
✅ Macro volatility has investors viewing Bitcoin as a hedge asset, not just a speculative play.
$1.3 Billion in Short Liquidations
$543M liquidated in 1 hour
- $762M over 12 hours (source: Coinglass)Bears got caught flat-footed as price action surged. With derivatives traders heavily skewed toward calls, the squeeze is turning into fuel for more upside.
Analyst Take
“Bitcoin is showing why it’s in a class of its own,” said OKX US CEO Roshan Roberts. “As altcoins falter and trade wars loom, institutions are treating BTC as a maturing macro hedge.”
“The rally is not just sentiment—it’s strategy,” said Ledn’s co-founder Mauricio Di Bartolomeo. “Companies are becoming Bitcoin proxies in public markets.”
Investor Watchlist
📌 Price Target Zone: $120K to $150K
📌 Key Catalyst: Crypto Week in Congress, Treasury-backed Bitcoin accumulation
📌 Risk: Broader macro tensions, potential pullback from overbought levels
Investor Takeaway: Bitcoin’s momentum isn’t just hype — it’s structurally supported. With institutions doubling down and options traders pricing in more upside, the breakout could still be in early innings.
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