Synopsis
Bitcoin briefly surged to $88,758 before retreating, fueled by MicroStrategy’s $584M purchase and Trump’s tariff comments. Analysts predict further upside if BTC holds above $85,000. Market sentiment remains positive, with major altcoins posting gains. Institutional interest and ETF inflows continue supporting Bitcoin’s dominance.
Bitcoin (BTC) staged a strong recovery on Tuesday, briefly hitting a high of $88,758 before pulling back. The rebound followed US President Donald Trump’s comments hinting at potential tariff exemptions, easing market concerns.
Market sentiment also improved after MicroStrategy’s $584 million Bitcoin purchase, reinforcing institutional confidence. “Bitcoin briefly reclaimed $88,000 following MicroStrategy’s purchase, signaling renewed institutional interest and ETF inflows. The asset remains strong above the $86,000 support level, while Trump Media has partnered with Crypto.com to launch ETFs featuring digital assets and securities,” said Vikram Subburaj, CEO of Giottus.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin, noted, “This rebound suggests a bullish reversal with a potential higher low formation. Despite fading volume on upward moves, accumulation candles indicate ongoing buying interest.”
Crypto Tracker
TOP COIN SETSAI Tracker14.39% BuyNFT & Metaverse Tracker8.78% BuySmart Contract Tracker8.69% BuyDeFi Tracker6.56% BuyWeb3 Tracker4.17% BuyTOP COINS (₹) BNB55,121 (2.82%)BuyTether86 (-0.08%)BuyBitcoin7,421,031 (-0.72%)BuyEthereum176,034 (-0.86%)BuyXRP207 (-1.97%)Buy”A breakout above $88,000 could signal a continued rise, while a drop below $82,000 may trigger selling pressure. Short-term charts highlight an uptrend, with strong support around $85,000 to $85,500. A break below $83,500 would invalidate the bullish setup, while a brief correction offers scalping opportunities near $86,500 to $86,800,” he added.
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As of 11:26 AM IST, Bitcoin was down 0.2% at $86,772, while Ethereum fell 0.6% to $2,056. The global crypto market cap rose 0.13% in the past 24 hours, reaching $2.84 trillion.
Among major altcoins, BNB surged 3%, Solana gained 1%, Dogecoin jumped 5%, and Cardano rose 3%. Meanwhile, Chainlink, Stellar, Hedera, Shiba Inu, and Uniswap posted gains of 1-2%.
Bitcoin’s market capitalization declined to $1.723 trillion, though its dominance increased to 60.53%. Its 24-hour trading volume surged 78% to $33 billion, while stablecoin transactions accounted for 95.2% of total crypto trading, reaching $79.92 billion, according to .
Also Read: Can Bitcoin drop to $20K if Nasdaq falls into a bear market?
Trump’s signals of possible tariff relief have impacted both crypto and traditional financial markets. “Bitcoin’s growing inflows highlight its increasing dominance, while Ethereum’s slower pace raises questions about its near-term trend. XRP wave patterns reflect both volatility and potential. Institutional investors continue to hedge with Bitcoin, while the market watches Ethereum and other leading altcoins for their response to macroeconomic factors,” said Avinash Shekhar, Co-Founder & CEO of Pi42.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
