TLDR
- Bitcoin trading near $95,000, approaching two-month high with eyes on $100,000
- Strategy (formerly MicroStrategy) purchased 15,355 BTC for $1.42 billion
- US Commerce Secretary Lutnick signaled more crypto-friendly regulations
- Standard Chartered forecasts Bitcoin could reach $120,000 by Q2 2025
- Spot Bitcoin ETFs recorded seventh consecutive day of inflows, totaling $591.3 million
Bitcoin is currently trading close to $95,000, showing steady gains as it approaches a potential break above the $100,000 mark. The cryptocurrency has been buoyed by several positive developments in recent days.
The price of Bitcoin rose slightly to $94,335 by early Tuesday, having reached as high as $95,436 earlier in the session. This puts the world’s largest cryptocurrency near its strongest level in two months.
One of the main drivers behind the recent price action has been Strategy (formerly MicroStrategy). The company disclosed a purchase of 15,355 Bitcoin for $1.42 billion between April 21 and April 27.
This latest acquisition brings Strategy’s total Bitcoin holdings to 553,555 coins, cementing its position as the largest corporate holder of Bitcoin. The company has funded these purchases through equity and debt issuances.
Strategy shares have outperformed Bitcoin itself in 2025, up 23% compared to Bitcoin’s 1% rise. Investors have been treating the company as a vehicle for Bitcoin exposure.
Regulatory Optimism
Another factor supporting Bitcoin’s price has been positive regulatory signals from the Trump administration. U.S. Commerce Secretary Howard Lutnick stated in a recent interview that the government is working on more crypto-friendly regulations.
Lutnick specifically mentioned that Bitcoin miners could benefit from a recently unveiled investment accelerator by the Commerce Department. He also said he views Bitcoin as a commodity and will encourage government agencies to regard the cryptocurrency in the same way as gold.
These comments have raised hopes for a more supportive regulatory environment under the Trump administration. This comes after the president’s earlier plans for a Bitcoin national reserve received a lukewarm reception.
The White House has also indicated that President Trump is considering some concessions in his automotive tariffs to help reduce their impact on the U.S. economy. This has fueled hopes for a broader scaling back of Trump’s tariff agenda, which could benefit risk assets like cryptocurrencies.
Strong ETF Performance
Institutional interest in Bitcoin continues to grow, with spot Bitcoin exchange-traded funds (ETFs) in the U.S. recording their seventh consecutive day of inflows on Monday. Total net inflows reached $591.3 million for the day.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, was the standout performer with net inflows of $970.9 million. The cumulative net inflows across all 12 Bitcoin ETFs have now reached $39.02 billion, the highest level since February.
Last week was particularly strong, with spot Bitcoin ETFs recording $3 billion in weekly inflows—the highest such value since November 2024.
Standard Chartered has issued an optimistic forecast for Bitcoin, predicting it could reach around $120,000 by the second quarter of this year. This projection is based on recent strong market performance and growing investor interest.
Technical analysts point to key support for Bitcoin between $93,220 and $94,244. The cryptocurrency appears to be recovering after a three-wave downward pattern from last Friday’s high.
While the market has been described as “choppy” in recent days, no clear market top has been confirmed. Bitcoin faces strong resistance around $95,450, but a breakthrough could signal further gains.
The broader cryptocurrency market has been more muted. Ether, the second-largest cryptocurrency, traded slightly lower at $1,793. Other altcoins like XRP, Cardano, and Solana fell by 1-2%.
The $TRUMP token slid 6% due to profit-taking after a strong performance last week. Reports indicated that some major holders were moving tokens to centralized exchanges, suggesting potential sales.
Bitcoin remains on solid footing thanks to strong institutional support, positive regulatory signals, and bullish price forecasts. The cryptocurrency appears well-positioned for a potential test of the $100,000 level in the near future.
