Bitcoin’s Bullish Horizon: Peter Chung Stands Firm on $210K Target Despite Market Turbulence
Amidst recent market fluctuations, Presto Research President Peter Chung remains steadfast in his $210,000 Bitcoin price prediction, citing institutional adoption and global liquidity as key drivers. His insights highlight Bitcoin’s unique position as both a risk asset and digital gold.
Presto Research President Peter Chung Maintains $210K Bitcoin Price Target Amid Market Correction
Peter Chung, president of Presto Research, reaffirmed a $210,000 price target for Bitcoin during a CNBC interview, framing recent volatility as a healthy market correction rather than a bearish reversal. The prediction hinges on institutional adoption and expanding global liquidity.
"Bitcoin’s dual role as digital gold and risk asset creates unique valuation dynamics," Chung noted. The $210K projection reflects compounding institutional interest and macroeconomic tailwinds rather than short-term price action.
Bitcoin’s Influence on U.S. Treasury Bonds Sparks New Financial Strategies
Luke Gromen, a macro investment strategist, argues that Bitcoin’s rally could rejuvenate demand for U.S. Treasury bonds. The Trump administration’s exploration of a strategic Bitcoin reserve—pegged at $95,231—may bridge stablecoins and Treasury bills, creating a symbiotic relationship between crypto and traditional finance.
Stablecoins, particularly those backed by dollar reserves, stand to benefit from Bitcoin’s upward momentum. Gromen notes that rising BTC prices historically correlate with increased appetite for dollar-denominated crypto assets, which in turn could drive institutional interest in Treasury securities.
Regulatory developments loom large. The proposal to combine T-bills with stablecoin reserves reflects growing recognition of crypto’s role in sovereign financial strategy. "When Bitcoin thrives, stablecoins become conduits for Treasury demand," Gromen observes, suggesting a potential feedback loop between crypto markets and government debt instruments.
Bitcoin Stalls Below $95,000 Amid Consolidation Phase
Bitcoin hovers just under $95,000, marking a modest 1.5% gain over the past 24 hours. The $100,000 resistance level remains a psychological barrier, with on-chain data revealing long-term holders are anchoring the market—a hallmark of a maturing bull trend.
Macroeconomic uncertainty looms as traders await key data releases, tempering momentum. Meanwhile, institutional adoption gains traction: Arizona’s legislative push for a Bitcoin reserve underscores growing state-level crypto integration.
Will Donald Trump Create a Bitcoin Reserve Tomorrow?
Speculation mounts as President Donald Trump approaches his 100-day milestone in office, with a 6% chance—per prediction market Polymarket—that he will announce a Bitcoin reserve for the U.S. Treasury. The administration’s pivot from Biden-era skepticism was underscored by Commerce Secretary Howard Lutnick, who declared the end of regulatory hostility toward crypto. "Under Biden, it was treated like you were doing something wrong… That’s over now," Lutnick told Bitcoin Magazine.
The potential move would mark a seismic shift in U.S. financial strategy, aligning with Trump’s recent pro-crypto rhetoric. Markets watch for whether tomorrow’s Securing American Greatness rally could deliver a watershed moment for Bitcoin’s institutional adoption.
Bitcoin-Friendly Poilievre Loses Seat as Carney’s Liberals Win 2025 Election
Conservative Leader Pierre Poilievre, a known advocate for Bitcoin, has lost his parliamentary seat in Canada’s 2025 federal election. The defeat came as Mark Carney’s Liberal Party secured enough seats to form at least a minority government, though falling short of projected majority territory.
Poilievre’s loss in his Ottawa-area constituency to Liberal challenger Brunce Fanjoy marks a setback for cryptocurrency-friendly politics in Canada. The election, triggered by Prime Minister Carney last month, concluded after a five-week campaign period that saw unexpected shifts in voter sentiment.
Final counts from Elections Canada show the Liberals captured approximately 162 seats by midnight Eastern Time—sufficient for minority governance but below poll predictions of 172 seats. The shortfall occurred despite campaign rhetoric emphasizing threats to Canadian sovereignty from U.S. political developments.
MicroStrategy Bolsters Bitcoin Holdings with $1.42 Billion Purchase
Michael Saylor’s MicroStrategy has acquired an additional 15,355 BTC for $1.42 billion, paying an average of $92,737 per bitcoin. The firm’s total holdings now stand at 553,555 BTC, valued at approximately $38 billion, with unrealized profits exceeding $15 billion.
April’s purchase of over 25,000 tokens follows a consistent accumulation strategy, though slightly reduced from previous months. MicroStrategy and BlackRock now dominate as the largest Bitcoin holders, with BlackRock’s ETF attracting $1.5 billion in inflows last week alone.
The acquisition signals continued institutional confidence in Bitcoin as a treasury reserve asset, despite recent market volatility. Saylor’s unwavering accumulation strategy demonstrates a long-term bullish thesis on the cryptocurrency’s value proposition.
