Market volatility is at play, with Bitcoin currently trading around the $85,000 range and Peter Brandt backing a potential drop to $70,000
Along with the GameStop stock, BTC price is also seeing some selling pressure, dropping 1.7% today and slipping under $86,000.
The Blockchain Group has bolstered its Bitcoin treasury with a $50M purchase, as analysts eye a potential BTC rally toward $95,000.
GameStop announced plans to allocate part of its $4.8 billion cash reserves to Bitcoin and US-dollar-pegged stablecoins, triggering a 10% surge in stock price.
As Mt. Gox moved over a billion dollars in Bitcoin, Kentucky and Arizona welcomed pro-crypto developments, suggesting massive adoption levels.
A Bitcoin whale recently withdrew 3,238 BTC (worth $284 million) from Binance, raising the total holdings to 15,986 BTC, worth $1.39 billion.
BitMEX founder Arthur Hayes sees Bitcoin price retesting the $110,000 high amid growing resurgence, however, with correction still ahead.
Bitcoin gained strong bullish momentum as the weekly inflows into the US-based spot BTC exchange-traded funds reached their two-month highs.
Despite Bitcoin’s ongoing slump, analysts remain optimistic in the long-term, predicting a prolonged consolidation in the short-term.
Eric Trump has joined Metaplanet’s strategic board of advisers to assist in advancing the company’s Bitcoin adoption strategy.
If Bitcoin manages to sustain above the key Fibonacci levels, a push toward $90,000 and beyond could be imminent.
Strategy has announced the acquisition of 130 Bitcoin and now holds a total of 499,226 BTC, acquired for a whopping $33.1 billion.
Bitcoin could drop to the $20,000 price level, according to BTC critic Peter Schiff, if the broader US stock market collapses amid uncertainty.
House Representative Gerald E. Connolly has urged the US Treasury to halt plans for a strategic Bitcoin reserve, calling it “unsound fiscal policy” with no benefit.
The US-based spot Bitcoin exchange-traded funds saw another phase of outflows as the demand for the leading crypto asset declined.