Bitcoin started the week with a solid move above its 200-day average, peaking just below 89k on Monday. However, it failed to overcome the next milestone – the 50-day average – outright.
At this stage, the recovery may be helped by the positive dynamics of the stock market, shifting the balance in favour of buyers. Successfully overcoming the 90,000 level will open a fast track to 97,000, where there was a previous long consolidation. If FOMO joins this uptrend, we could see a move to all-time highs before the summer even begins.
Crypto News
According to CoinShares, global crypto fund investments rose $644 million last week after five weeks of outflows totalling $6.4 billion. Bitcoin investments increased by $724 million, XRP by $6.7 million and Solana by $6.4 million. Ethereum investments decreased by $86 million.
Strategy bought 6,911 BTC worth $584.1 million at an average price of $84,529 per coin. The company owns 506,137 BTC, bought at an average price of $66,608. The total investment is valued at $33.7 billion.
Japan-based Metaplanet bought 150 BTC for $12.6 million following the appointment of Eric Trump, the son of the US president, to its strategic board. The company’s total crypto assets reached 3,350 BTC ($291.3 million). Metaplanet plans to accumulate 10,000 BTC by the end of 2025.
