Bitcoin News Today: Bitcoin Reclaims $118,000 Mark After 1% Gain

Bitcoin (BTC) has shown resilience after a significant decline on Tuesday, rebounding to reclaim the $118,000 mark. The cryptocurrency plummeted to a low of $115,701 on Tuesday before stabilizing at $117,682. During the current session, BTC has risen by nearly 1%, trading around $118,447. Despite the recent drop, analysts are optimistic that BTC is unlikely to experience a prolonged correction in the near term.

Brandon Lutnick, Chair of Cantor Fitzgerald, is in advanced discussions to finalize a $4 billion deal with an early Bitcoin supporter. This deal involves purchasing billions worth of BTC using a blank cheque vehicle backed by Cantor Fitzgerald. Cantor Equity Partners 1, which raised over $200 million in an initial public offering, is in late-stage talks with Adam Beck, founder of Blockstream Capital, to acquire $3 billion in Bitcoin. This transaction mirrors a previous deal Brandon struck with SoftBank and Tether in April, furthering Cantor Fitzgerald’s strategy of using publicly-listed shell companies to buy Bitcoin. The deal could see Beck contribute 30,000 BTC, worth over $3 billion, to Cantor Equity Partners 1, as part of a broader agreement to raise up to $800 million in outside capital for future Bitcoin purchases. Beck and Blockstream would exchange their holdings for shares in the Cantor vehicle. Sources indicate that a deal could be finalized as early as this week, positioning Cantor as one of the world’s largest and most active Bitcoin buyers.

Bitcoin (BTC) concluded the weekend on a bullish note, with a nearly 2% increase, settling at $118,624. Bullish sentiment intensified on Monday, with the price surging to an intraday high of $123,091 before declining and settling at $119,714. However, selling pressure returned on Tuesday as traders locked in profits, causing BTC to fall to an intraday low of $115,701 before stabilizing at $117,682. Despite Monday’s drop, analysts do not believe Bitcoin will enter a downtrend anytime soon. According to analysts from 21Shares, robust fundamentals are supporting the cryptocurrency’s current trajectory. The structural imbalance between surging demand and a rapidly vanishing supply base makes a prolonged correction increasingly unlikely. There are far more positives than negatives right now.

According to Matt Mena, the current rally is being driven by spot Bitcoin ETFs and Bitcoin treasury companies, with retail demand almost absent. US-listed Bitcoin ETFs have already absorbed several multiples of the BTC that will be mined this year. That doesn’t even include corporate treasury buyers, who continue to add quietly in the background. While Mena believes BTC’s bullish trajectory will continue, he cautioned that a reversal cannot be ruled out due to macroeconomic factors. It is certainly possible that Bitcoin consolidates, or even sees a pullback. If Trump’s proposed tariffs end up being more severe than markets currently anticipate, or if Powell signals that rate cuts are further off than expected, we could see risk assets broadly reprice lower, including Bitcoin.

BTC crossed $110,000 on Thursday but lost momentum after reaching this level and fell 1.41% to $108,097 on Friday. The price recovered over the weekend, rising 0.19% on Saturday and nearly 1% on Sunday to settle at $109,231. Despite the positive weekend, BTC was back in the red on Monday, dropping almost 1% to 108,273. It recovered on Tuesday, rising 0.62% and settling at $108,942. Buyers retained control on Wednesday as the price rose over 2% to cross $111,000 and settle at $111,255. Bullish sentiment intensified on Thursday as BTC registered a 3.51% increase and moved to $115,159. BTC continued pushing higher on Friday, rising 1.50% to cross $116,000 and settle at $116,885. Despite the positive sentiment, the price registered a marginal decline on Saturday. However, it recovered on Sunday, rising nearly 2% to cross $118,000 and settle at $118,624. Bullish sentiment intensified on Monday as BTC surged past $120,000 to set a new all-time high of $123,091 before declining and settling at $119,814, ultimately registering an increase of 0.92%. Selling pressure returned on Tuesday as BTC plunged to a low of $115,701 before settling at $117,682. The current session sees BTC up nearly 1%, trading around $118,417.