Bitcoin Price Surges Back To $116,000 After Bloody Crypto Weekend
Briefly

Bitcoin Price Surges Back To $116,000 After Bloody Crypto Weekend
"The bitcoin price fell to the low $100,000s on Friday as U.S. and China trade tensions rattled global markets. President Donald Trump announced new 100% tariffs on Chinese goods after Beijing unveiled sweeping export controls set to begin Nov. 1. But over the weekend, market jitters eased and the bitcoin price gradually rebounded. President Trump walked back some of the fear and posted that 'it will all be fine' in reaction to the trade tensions."
"The latest leg higher was sparked, in part, by Strategy's announcement that it had purchased an additional 220 BTC for roughly $27.2 million, bringing its total holdings to 640,250 BTC - about 3.1% of Bitcoin's total supply. The company funded the purchase through proceeds from several at-the-market (ATM) share offerings over the past week. While Strategy's accumulation has long been a fixture of bull market narratives, analysts say the timing of this latest buy sent a strong signal of confidence to jittery investors following Friday's sell-off."
Bitcoin price rebounded sharply to around $116,000 after tumbling to the low $100,000s amid heightened U.S.-China trade tensions and tariff announcements. Weekend calming from presidential remarks helped ease market jitters, while institutional inflows and corporate treasury activity stabilized sentiment. Strategy purchased an additional 220 BTC for roughly $27.2 million, bringing its holdings to 640,250 BTC, funded via at-the-market share offerings. U.S. spot Bitcoin ETFs continued to see inflows, with BlackRock's IBIT ETF surpassing 800,000 BTC in assets under management, valuing near $97 billion. Short-term technicals remain cautious, with $105,000 as support and $118,000 as a key resistance level.
Read at Bitcoin Magazine
Unable to calculate read time
[
|
]