Bitcoin skyrocketed to $94,500 last night after former U.S. President Donald Trump posted, “I also like Bitcoin and Ethereum!” on Truth Social. His statement ignited a frenzy in the crypto market over the weekend, especially following reports that he holds a reserve of BTC and ETH.
Renowned analyst Michaël van de Poppe shared an extremely bullish outlook, stating, “Market shifts happen when no one expects them.” He further added, “The recent crash was likely one of the biggest manipulations ever, allowing major players to accumulate large positions in $BTC and $ETH. The bottom is in. The bottom is in for Altcoins. The final easy cycle has begun.”
Bitcoin’s rally to new highs marked a 20% surge from its multi-month low of around $78,000 just two days prior. The extreme volatility also led to an unexpected shift in market rankings, with XRP briefly surpassing Ethereum in fully diluted valuation (FDV).
“This is exactly what the crypto market has been waiting for,” The Kobeissi Letter noted in a recent post.
Meanwhile, analyst Rekt Capital classified Bitcoin’s dip to $78,000 as a “bearish deviation.” He observed that Bitcoin has now recovered almost all of its losses, adding, “For a full reclaim of the range, Bitcoin needs a weekly candle close above $93,500.” With BTC currently trading above this level, traders are closely watching whether the momentum can sustain.
As excitement builds, investors are speculating whether this rally signals the beginning of a new bull run. With growing institutional interest and increasing political discourse around cryptocurrencies, Bitcoin’s path forward remains one of the most closely watched narratives in global finance.
