Bitcoin Surges 3.5% After Blockstream CEO Urges Immediate Purchase

Adam Back, CEO of Blockstream, has urged retail investors to purchase Bitcoin immediately. Speaking at the Paris Blockchain Week 2025, Back presented a strong argument for why Bitcoin should be a top priority for everyday investors. He asserted that as governments seek to acquire the coin, the Bitcoin price will surge in the coming times. He emphasized that Bitcoin’s decentralized nature enhances its long-term value, making it an excellent investment for the common man.

Back, a long-time advocate for Bitcoin, discussed the current state of the global financial markets. Recently, markets worldwide experienced a significant crash, now referred to as ‘Black Monday’. Trillions were erased from the U.S. stock exchange, leading to substantial volatility in the crypto markets as well. Despite these conditions, Bitcoin has demonstrated resilience. Apart from occasional dips, Bitcoin has avoided any unexpected losses. Back encouraged people to focus on Bitcoin’s future potential rather than its recent price fluctuations. He believes that Bitcoin serves as a robust hedge against growing inflation.

The Blockstream CEO also addressed the potential threat posed to Bitcoin’s security by quantum computing. He acknowledged the seriousness of the issue but reassured investors that quantum computing technology is not yet close to posing a real risk. He expressed confidence in the Bitcoin community and their ability to innovate and adapt by developing solutions to such issues.

As Paris Blockchain Week continues to feature crypto leaders from around the world, Back’s opinions have renewed people’s belief in Bitcoin as a hedge against inflation. With governments rushing to create their crypto reserves, Back highlighted the current moment as an opportune time to acquire Bitcoin. With such positive sentiments spreading globally for Bitcoin, it is clear that the cryptocurrency is regaining its footing after the recent market crash.

Yesterday, Bitcoin trading began at $78,478. The conditions were oversold at the start of the day, prompting an upward trend. Subsequently, Bitcoin rose quickly, approaching the $79,900 resistance. However, the buying pressure soon waned before any significant positive movement. At 2:15, the death cross on the MACD sent BTC into a downtrend. By 7:05 UTC, Bitcoin had dropped to $74,567. With the market now heavily oversold, the anticipated uptrend occurred and pushed Bitcoin to find new resistance at $77,500. However, Bitcoin’s initial advances thereafter were swiftly rejected.

A few attempts later, Bitcoin was able to spike up to $81,200 on the back of a 13:50 golden cross. With the coin now massively overbought, a correction soon arrived. Bitcoin fell to $77,500, finding some reversal at that point. Since then, Bitcoin has been on a slow ascent, with an $80,900 resistance in place. Overbought conditions followed Bitcoin’s advance to this resistance, and a downtrend had spawned. As of the latest update, the Bitcoin price had just dipped below the support.

Bitcoin has shown a stable recovery so far, following the Black Monday crash. As of now, Bitcoin has already abandoned the $79,600 support. Additionally, there is a lack of buying pressure as the RSI stays in the gray area. Given that, it looks like this slow downtrend will persist for a few hours, if not more. If not reversed soon, it could lead to further correction for Bitcoin, taking it back to the $76,000-$77,000 range.