Bitcoin Surges 20% Toward $19 Trillion Tipping Point

Bitcoin and cryptocurrency prices have surged, pushing the combined crypto market over $3 trillion and moving towards a $19 trillion "tipping point." The bitcoin price has increased by 20% since dropping to April lows of under $75,000 per bitcoin. This surge has put Wall Street banks in a precarious position, facing an “existential” crypto crisis.

As the global financial system approaches a potential "monetary order breakdown" that could be more severe than the 2008 financial crisis, bullish bitcoin and crypto traders are returning to the market. They predict that the "tide may be turning" as Treasury secretary Scott Bessent is expected to reassure markets. Bessent will discuss “the state of the global financial system” during a key note speech at the International Monetary Fund (IMF) and World Bank Spring Meetings. Yesterday, Bessent indicated a “de-escalation” in the U.S.-China trade war, which has significantly impacted markets and erased trillions of dollars in value.

U.S. president Donald Trump has also signaled a potential shift in his trade war with China, stating that tariffs on exports from China to the U.S. will “come down substantially.” Trump's comments have reassured bitcoin, crypto, and stock markets, as he also mentioned having "no intention of firing" Federal Reserve chair Jerome Powell, while expressing a desire for Powell to be "a little more active" in cutting interest rates.

Analysts with B2BInPay noted that bitcoin has broken through a key price range at $88,760 and is heading toward liquidity levels around $95,000 and $99,500. If it manages to break through those levels, it is likely to reach an all-time high. The current setup looks bullish, according to the analysts.

This week, the dozen bitcoin exchange-traded funds (ETFs) that found huge success after their launch last year but have struggled since Trump took office, saw their best day of inflows since January. This shift suggests the tide may be turning, adding fresh momentum to the ongoing rally. Markus Thielen, the chief executive of 10x Research, wrote in an emailed note that "once bitcoin breaches $110,000, the previous all-time high, it will likely surge, further increasing dominance." Arthur Hayes, the former BitMex chief executive who now runs the Maelstrom investment fund, wrote in a blog post that he is "very bullish" and that traders should "back up the truck, and buy everything."