Bitcoin News: BTC Eyes $100,000 as Market Recovers and Price Hits $88,350

As the cryptocurrency market begins to show signs of recovery, Bitcoin (BTC) has become the center of attention with its recent price surge. Here’s a closer look at the latest developments and what they mean for the future of BTC.

$100,000 BTC Price in View as Bitcoin Taps $88,000

As the new month nears its close, the cryptocurrency market has begun to recover. The leading crypto asset, Bitcoin (BTC), has made a slow but progressive upward run, briefly tapping $88,350. This bullish uptrend reflects stability in momentum. Two weeks prior, Bitcoin traded at $77,500, but bulls quickly pulled the asset back up after the local bottom was recorded, with buyers dominating the market. Notably, data from Santiment shows a spike in the total number of wallets holding 100 to 10,000 BTC, indicating whale accumulation and renewed demand. This positive sentiment coincides with Bitcoin’s upward movement.

Bitcoin (BTC) Exchange Supply Drops to 7-Year Low, Signaling Institutional Demand

Bitcoin’s supply on exchanges has dropped to 7.53%, the lowest level since February 20, 2018. This sudden drop indicates a shift in investor attitudes towards long-term holding, which is bullish for Bitcoin’s price action. Coinbase’s BTC volume also dropped 10% to 12,500 BTC, reducing liquidity and increasing the risk of price volatility. Currently, BTC is trading at about $87,491, with RSI levels at 68 and MACD reflecting sustained bullish momentum. The seven-year milestone of the lowest exchange supply ratio signals a maturing market, with investors appearing more focused on long-term gains.

GameStop (GME) Jumps Following Unexpected Bitcoin Pivot

Electronic gaming giant GameStop Corp. (NYSE: GME) has announced a significant shift in its investment strategy by adopting Bitcoin as a treasury reserve asset. This decision has significantly increased the company’s stock value, with the stock trading at $29.16, up 15% from the previous close. During the trading session, the stock reached a high of $29.90 and a low of $27.40, with an opening price of $28.94 and a daily trading volume of 29,531,772 shares.

Strategy’s Massive Bitcoin Accumulation: Bernstein Predicts Over 1M BTC by 2033

Bitcoin is becoming a core part of corporate strategies, with Strategy (formerly MicroStrategy) leading the way. The firm has been aggressively accumulating Bitcoin, and according to a new report from Bernstein, its holdings could reach over 1 million BTC by 2033 if market conditions remain favorable. Bernstein’s analyst also predicts that Bitcoin will hit $200,000 by the end of 2025, $500,000 by 2029, and $1 million by 2033.

Fed’s Crypto Role Under a Vibecession Cloud

The US Federal Reserve is adopting a wait-and-see approach regarding cryptocurrencies, unperturbed by financial market movements. The next Fed move could result in a longer pause than expected rate cuts. The term ’vibecession’ has sparked concern in the US, with markets indicating a potential recession. Bitcoin, which has not reached its all-time high from Trump’s first day in office, faces risks associated with President Trump’s policy changes.