Key insights:
- Trump’s $10M BTC, ETH buy sparks speculation before crypto summit.
- Bitcoin surges past $92,760 amid rising global liquidity inflows.
- Mt. Gox BTC transfers ease liquidation fears as market demand holds.
Bitcoin price surged past $92,760, gaining over 5% in 24 hours, as liquidity inflows strengthened. The rally comes amid a notable $10 million Bitcoin purchase by U.S. President Donald Trump, fueling speculation ahead of the upcoming White House Crypto Summit.
Crypto analyst Rekt Capital highlighted Bitcoin’s bullish structure, pointing to a key wedge formation that, if broken, could push BTC toward $120,000 in the coming weeks.
Trump’s Bitcoin Bet Fuels Speculation
On-chain data surfaced early Thursday, revealing that Trump acquired $10 million in BTC and $10 million in Ethereum (ETH), just one day before the White House Crypto Summit.
Merlijn The Trader shared the information on X, questioning Trump’s timing:
While details remain sparse, the purchase adds weight to the growing political attention on digital assets, particularly as Trump prepares to address industry leaders, including MicroStrategy’s Michael Saylor and venture capitalist Matt Huang.
Global Liquidity Boost Supports Market Rally
Bitcoin’s surge aligns with rising global M2 money supply, as highlighted by crypto analyst Colin Talks Crypto. The analyst pointed to a sharp uptick in M2, historically linked to market liquidity boosts.
“The rally for stocks, Bitcoin, crypto is going to be epic,” he stated, suggesting March 25 as a crucial date for market movements.
Meanwhile, Tokyo-based investment firm Metaplanet raised its Bitcoin holdings by 497 BTC ($43.9 million), reinforcing institutional confidence. The company aims to hold 10,000 BTC by 2025 and 21,000 BTC by 2026, mirroring MicroStrategy’s previous strategies.
Metaplanet’s stock surged 17% following the purchase, underscoring Bitcoin’s growing appeal as a corporate reserve asset.
Mt. Gox Bitcoin Transfers ease Liquidation Fears
Despite concerns over Mt. Gox creditors moving 12,000 BTC ($1.2 billion) to new wallets, Bitcoin’s price held firm above $92,300. Blockchain analytics firm Arkham Intelligence confirmed the transfers, but market demand remained strong.
Past wallet movements, including 24,000 BTC in Dec. 2024, had minimal impact on prices. Additionally, repayment deadlines have been extended to Oct. 2025, reducing immediate liquidation risks.
With liquidity injections, institutional interest, and Trump’s latest crypto move, Bitcoin’s path to $120,000 remains in focus.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
