Bitcoin is once again drawing global attention after climbing steadily in recent days. On Monday, it touched a high of $95,548 before stabilising around $95,055. The price increase marks a gain of 7.38% over the past week. This growth has pushed Bitcoin’s market cap to around $1.8 trillion, reflecting renewed optimism among investors. At the same time, trading volume over the last 24 hours stood at nearly $19.5 billion, which shows that buyers remain active in the market.
Much of the current positive sentiment is being attributed to rising institutional involvement and strong technical indicators. One of the biggest developments was Strategy’s announcement of a fresh Bitcoin purchase worth $1.4 billion. The company acquired 15,355 more Bitcoins, pushing its total holdings to 553,555 BTC. This single acquisition is now valued at over $52 billion. Alongside this, Standard Chartered released a research report projecting that Bitcoin could reach $120,000 by the end of the second quarter of 2025 and even touch $200,000 by year-end.
According to Geoffrey Kendrick, who leads digital asset research at Standard Chartered, various macroeconomic factors are pushing investors toward Bitcoin. He points to growing concern around U.S. treasury yields, which are at a 12-year high, as a sign that investors are becoming cautious about American debt. With this shift, Bitcoin has become a more attractive option for those looking to move funds away from U.S.-based assets. Kendrick also highlights growing interest from large holders known as whales, who continue to accumulate Bitcoin in large volumes. Gold exchange-traded funds are reportedly losing ground to Bitcoin ETFs, another sign of the digital asset’s rising acceptance.
Technical indicators also suggest that Bitcoin might be preparing for another upward breakout. The recent move above its 200-day moving average, along with the Relative Strength Index staying above 50, indicates that investor confidence is improving. Analysts like Alankar Saxena from Mudrex and Piyush Walke from Delta Exchange note that the market is looking for a trigger, such as positive economic data or reduced inflation pressure, to help push Bitcoin above the $100,000 level. Resistance remains near $96,000, but traders believe that if this level is broken, Bitcoin may rally further.
