Bitcoin recorded a 2.2% increase during today’s session, reaching a level of $96,446, supported by a general improvement in investor appetite for high-risk assets. Despite these gains, the cryptocurrency remains range-bound between $90,000 and $97,000, reflecting a period of technical consolidation and exhaustion of the bullish momentum that emerged in April.
The digital asset market also responded positively to news of an upcoming meeting between the United States and China to discuss trade matters. This announcement boosted overall sentiment and encouraged traders to move toward speculative assets. Although Bitcoin is a decentralized asset, its performance remains closely tied to geopolitical developments, largely due to its sensitivity to market psychology rather than pure economic fundamentals.
Meanwhile, Strategy, a major institutional player in the crypto market, announced the purchase of 1,895 Bitcoins worth $180 million. While this is the company’s smallest acquisition compared to previous buys, it carries significant implications. The move reflects a more cautious stance, especially following large unrealized losses in Q1, prompting the firm to manage risk more conservatively amid current market volatility.
The Bitcoin dominance index also saw a notable surge, reaching 65.09%—a sharp rise from under 48% just a few months ago. This shift highlights a clear change in investor behavior, as confidence in altcoins has waned due to weak liquidity and increased volatility. Bitcoin is increasingly seen as the most stable digital asset in a highly fragmented and unpredictable market.
In a significant development, the U.S. state of New Hampshire officially adopted the idea of a strategic Bitcoin reserve, marking a move with both political and economic weight. This initiative enhances Bitcoin’s legitimacy and institutional appeal, reinforcing investor confidence and potentially paving the way for wider government-level adoption in the future.
Meanwhile, altcoins have shown limited movement. Ethereum and Cardano demonstrated some relative strength, but others like Polygon and Dogecoin continue to trade within tight ranges, reflecting a lack of liquidity and momentum. As a result, the broader market remains in a state of sideways consolidation.
