Bitcoin’s back above $87,000. Feels like just yesterday it was flirting with $74,500, right? A bit of a wobble, thanks to tariff talk from the States. But here we are, climbing again. It’s a reminder, isn’t it, that crypto isn’t a straight line to the moon. More like a slightly tipsy walk.
- Bitcoin has recovered to over $87,000 after a recent dip, driven by factors like increased global liquidity and institutional buying. Despite market fluctuations, the overall trend indicates a positive, albeit volatile, trajectory for Bitcoin.
- Michael Saylor of MicroStrategy remains a staunch Bitcoin advocate, emphasizing its lack of counterparty risk despite significant financial losses. His continued support highlights the long-term belief in Bitcoin’s fundamental value and potential.
- While Bitcoin shows positive momentum, experts caution against prematurely declaring a bull run, citing ongoing tariff negotiations and bond market uncertainties. The Federal Reserve’s interest rate decisions and clarity on trade policies are crucial factors for sustained growth.
The price jumped over 2.4% in the last 24 hours, hitting $87,325. That’s the highest it’s been since April 2nd. What’s going on? Well, a few things. More money sloshing around globally – the M2 money supply is up to $90.2 trillion – and some big players are still buying. It’s a simple equation, really: more demand, less supply, prices go up.
Dominick John at Kronos Research puts it plainly: global liquidity is ticking up, and institutions are interested. Strategy, formerly known as MicroStrategy, is still stacking Bitcoin, despite taking a $5.91 billion loss in the first quarter. Michael Saylor, the man behind it all, seems unfazed. He tweeted something about Bitcoin having “no counterparty risk.” Which, you know, is a fair point. No banks, no governments, just code.
Bitcoin has no counterparty risk. No company. No country. No creditor. No currency. No competitor. No culture. Not even chaos. https://twitter.com/saylor/status/1913679651941368225
Spot Bitcoin ETFs also saw a $15.8 million net inflow last week. People are putting money *into* Bitcoin, not just trading it. Ether and XRP are also up, but Solana took a little dip. It’s never all green, is it?
Is This a Bull Run?
Hold your horses, though. Peter Chung at Presto Research is cautious. He says it’s too early to declare victory. Those tariff negotiations are still ongoing, and the bond market is still a bit jittery. Bitcoin “held up well” in April, outperforming the S&P, Nasdaq, and the Magnificent 7, which is a good sign. But it’s not a done deal.
John of Kronos says a *real* bull run needs the Federal Reserve to keep interest rates low. That’s the fuel. The next Fed meeting is May 6th and 7th, and right now, there’s only a 12.4% chance they’ll cut rates. Clarity on Trump’s trade policies would also help. Uncertainty is the enemy of investment, after all.
So, what does it all mean? Bitcoin is bouncing back, but it’s not out of the woods yet. It’s a bit like climbing a hill – you get to the top, then you realize there’s another one right behind it. Still, the fact that it’s climbing at all is encouraging. And Saylor’s unwavering faith? Well, that’s something. It’s easy to be bullish when prices are going up, but he’s been bullish through thick and thin.
The market is watching. The Fed is watching. And a lot of people are hoping this isn’t just a temporary blip. Because if it’s not, well, that tipsy walk might just turn into a rocket ride.
