Jack Dorsey’s Warning on US Consumer Weakness Could Propel Bitcoin to $1 Million

Twitter and Block (formerly Square) founder Jack Dorsey has issued a cautionary note about the declining strength of US consumers, a development that may unexpectedly accelerate Bitcoin's rise to $1 million. Dorsey, often compared to Steve Jobs for his innovative contributions to technology, highlighted growing consumer turbulence, which led to a 20% drop in Block's stock price in early May 2025. However, this economic uncertainty could drive investors toward Bitcoin as a hedge against traditional market volatility. Block's CashApp, a pioneer in cryptocurrency integration, further underscores the potential for Bitcoin's adoption amid financial instability. As of July 2025, analysts speculate that Dorsey's warning may catalyze a significant capital shift into Bitcoin, reinforcing its position as a digital safe haven.

Twitter Founder’s Warning to Investors Could Catalyze Bitcoin's Rise to $1M

Jack Dorsey, often likened to Steve Jobs for his transformative tech ventures, has issued a stark warning about US consumer strength—a development that may paradoxically fuel Bitcoin's ascent to $1 million. Block (formerly Square), Dorsey's payments company, saw its shares plummet 20% in early May as consumer turbulence looms. Yet this weakness could drive capital toward Bitcoin as a hedge.

Block's CashApp pioneered corporate bitcoin adoption in 2019 by offering BTC custody services, foreshadowing MicroStrategy's later success. While consumer fragility threatens Block's core business, it reinforces Bitcoin's narrative as digital gold during economic uncertainty. Dorsey's influence continues to shape crypto adoption, with his early bets now intersecting with macroeconomic fragility.

Bitcoin Funding Rates Remain Positive On Binance — Strong Uptrend Confirmed?

Bitcoin's price recovery over recent weeks has reignited debates about the sustainability of its bullish momentum. Analysts are divided on whether this surge is a precursor to new all-time highs or a bull trap. On-chain data, however, points to the early stages of a robust upward trend.

Funding rates on Binance, a key metric in perpetual futures markets, suggest a correlation with Bitcoin's short-term price trajectory. Positive funding rates often signal strong trader confidence, reinforcing the case for continued upward movement. The CryptoQuant analysis by Burak Kesmeci highlights this dynamic as a critical indicator for market sentiment.

Sovereign Wealth Funds Dip Toes Into Bitcoin Amid Regulatory Uncertainty

Sovereign wealth funds have begun cautiously accumulating Bitcoin, though large-scale allocations remain paused. Anthony Scaramucci's SkyBridge Capital observes these state-owned investors are awaiting clearer US regulatory frameworks before making substantial commitments.

The missing puzzle pieces include stablecoin legislation, bank custody guidelines for digital assets, and tokenized stock pilots. Scaramucci emphasized on Pompliano's podcast that without congressional action on these fronts, major sovereign investments won't materialize.

Market participants anticipate potential movement later this year if Washington delivers regulatory clarity. The coming months may prove decisive as institutional capital waits in the wings, poised to deploy once ground rules are established.

Conor McGregor Advocates for Irish Bitcoin Reserve Amid Market Rally

Former UFC champion and Irish presidential hopeful Conor McGregor has thrown his weight behind the creation of a national Bitcoin reserve in Ireland. McGregor took to X on May 9, framing Bitcoin as a tool for financial sovereignty. "Crypto in its origin was founded to give power back to the people," he wrote, adding that an Irish Bitcoin reserve WOULD empower national currency holdings.

The proposal surfaces as Bitcoin breaches $104,000, marking a significant milestone in its recent rally. McGregor plans to expand on his vision during an upcoming X Spaces discussion, calling for input from prominent Bitcoin advocates. "We need the greatest minds for this BTC Reserve," he stated in response to crypto influencer Anthony.

Bitcoin Bulls Face Critical Resistance Test Amid Liquidity Trap Concerns

Bitcoin's rally toward $106,249—a late-January high—has sparked debate among traders. The MOVE carries hallmarks of a classic bull trap, where breakout euphoria could lure weak hands into premature profit-taking. Market structure suggests shorts are positioning for downside liquidity sweeps should BTC fail to decisively overcome overhead resistance.

The STH-MVRV metric reveals growing profit-taking incentives among short-term holders since Bitcoin cleared $93,000. This cohort's behavior often dictates whether rallies sustain or unravel. Historical patterns show such price nodes frequently become battlegrounds between Leveraged longs and bears hunting stop-loss orders.

Bitcoin Price Analysis: What’s Next for BTC After Breaking Above $104K?

Bitcoin surged past the $100,000 resistance level in early May, marking a decisive breakout from a month-long consolidation phase. The rally, fueled by strong momentum, pushed BTC to fresh local highs above $104,000. Technical indicators suggest further upside potential, though overbought conditions warrant caution.

The daily chart reveals a clear escape from the compression between the rising trendline and key moving averages. Both the 100-day and 200-day moving averages NEAR $90,000 have been reclaimed, while the RSI holds firmly above 70. Such strength underscores bullish conviction, but traders remain watchful for potential pullbacks.