The annual Bitcoin Conference is currently underway in Las Vegas, running from May 27 to May 29, and features notable attendees including US Vice President JD Vance and Bitcoin advocates like Michael Saylor.

MultiversX is set to release its Andromeda upgrade on May 28, aimed at improving scalability for EGLD investors, while the Fed's FOMC minutes will provide insights into future rate decisions.

Key discussions at the conference will include developments in the Lightning Network, Taproot Assets, and governance issues within the Bitcoin community.

Financial institutions are increasingly integrating Bitcoin into their services, signaling a shift towards mainstream acceptance of cryptocurrencies in traditional finance.

On May 30, the FTX Recovery Trust will begin distributing over $5 billion to creditors, which could impact market dynamics as claimants may reinvest their recoveries into Bitcoin.

As the conference unfolds, Bitcoin's price is reported at $110,661, reflecting a calm in the market that may precede significant movements.

The conference is attracting a diverse crowd, including many retail investors who are experiencing Bitcoin for the first time since Trump's election victory.

Cultural exhibits at the event, such as 'The Art of Freedom,' showcase Bitcoin's influence on art and creative expression.

Recent data shows a decline in perpetual futures open interest and funding rates, indicating a defensive stance among traders.

Key factors driving Bitcoin's recent surge include increased institutional adoption, such as BlackRock’s Bitcoin ETF approval and Tesla’s investments, along with clearer regulatory guidelines from authorities like the SEC.

This week is pivotal for Bitcoin, with various events scheduled that could influence its market value.

Past experiences from last year’s Nashville conference, where a speech by Trump led to a sharp drop in Bitcoin's value, continue to shape cautious sentiment among traders.