Altcoins News

Story: Bitcoin Eyes $119K as Firms Buy 28K BTC in 48 Hours

By Sakamoto Nashi

1 / 15

Market Reacts to Fed Announcement. On Wednesday, the Federal Open Market Committee (FOMC) held interest rates steady but signaled…

2 / 15

BTC Price Bounces Back Strong. By Thursday, Bitcoin had already recovered and was trading up nearly 3% from its local lows.

3 / 15

White House Confirms Strategic Bitcoin Reserve Plan. Robert “Bo” Hines, executive director of the President’s Council of Advisers on Digital Assets,…

4 / 15

Big Firms Add 28,000 BTC to Treasuries. Alongside the bullish government signal, corporate treasuries went on a buying spree.

5 / 15

Liquidations Near $500M as Volatility Spikes. The sudden price swings led to a large number of liquidations.

6 / 15

What’s Next for Bitcoin?. With BTC now trading just under $119,000, investors are wondering if the recent momentum can be…

7 / 15

Conclusion. Bitcoin’s fast rebound following a hawkish Fed message shows how strong the bullish sentiment is,…

8 / 15

Bitcoin (BTC) is once again making headlines after a swift rebound, with its price now targeting the $119,000 mark.

9 / 15

This caused temporary concern in the crypto market, pushing Bitcoin down slightly. Investors were unsure about how tighter monetary policy might affect digital assets.

10 / 15

The sudden turnaround in sentiment came thanks to a mix of encouraging news from the U.S. government and aggressive buying from corporate players.

11 / 15

Robert “Bo” Hines, executive director of the President’s Council of Advisers on Digital Assets, announced that the U.S. still plans to establish a strategic Bitcoin reserve.

12 / 15

“We understand the importance of the strategic Bitcoin reserve,” Hines said in an interview.

13 / 15

Although no timeline was given, the comments were enough to restore confidence in the market and spark new demand for BTC.

14 / 15

Alongside the bullish government signal, corporate treasuries went on a buying spree. According to data shared by Charles Edwards, founder of Capriole Investments, treasury…

15 / 15

“While you were worrying about the Fed, Bitcoin treasury companies just had one of their biggest buying days ever,” Edwards posted on X (formerly Twitter).

The Currency Analytics

Want the full story?