🔹 In just two days, Bitcoin soared from under $99,000 to over $108,000. At first glance, it looked like a typical market rally. But in reality, a wave of institutional moves behind the scenes was responsible for triggering this sudden spike. Here's a breakdown of the key events that fueled the rise.
Dip Below $99,000 Shakes the Market
On June 22, Bitcoin suddenly dropped to $98,200 after weeks of tightening price action. The sharp correction surprised investors and triggered liquidations, as BTC had held above $100,000 for seven straight weeks.
Market sentiment quickly turned cautious. But it wouldn’t last.
June 23: ProCap Announces $1 Billion Merger – and Starts Buying
The very next day brought a major shift. ProCap BTC, an institutional investment vehicle led by well-known Bitcoin advocate Anthony Pompliano, announced a $1 billion SPAC merger with Columbus Circle Capital, forming the new entity ProCap Financial.
Pompliano revealed the fund had secured over $750 million in fresh capital – calling it the largest capital raise ever by a Bitcoin-focused company.
And it didn’t take long for ProCap to act.
Over Half a Billion Dollars in Bitcoin Bought in Two Days
Within 24 hours of the merger announcement, ProCap made the following purchases:
🔹 $386.5 million for 3,724 BTC at an average price of $103,785
🔹 $128 million for another 1,208 BTC at an average price of $105,977
In total, ProCap acquired 4,932 BTC worth roughly $514.5 million in less than two days.
Market analytics platform Lookonchain noted a clear correlation between ProCap’s announcements and the rapid rise in Bitcoin’s price.
Other Institutional Players Were Quietly Accumulating Too
While ProCap made headlines, other major institutions also increased their holdings:
🔹 Strategy, led by Michael Saylor, bought 245 BTC worth $25 million – just a week after acquiring 10,100 BTC for over $1 billion.
🔹 Smarter Web Company continued its “10-year financial strategy” by adding more BTC.
🔹 Méliuz SA (CASH3) acquired 275.43 BTC for $28.61 million after a recent stock offering, bringing its total to 595.67 BTC at an average price of $102,702.
🔹 The Blockchain Group, Europe’s first publicly traded Bitcoin company, added 75 BTC for around €6.9 million. As of June 23, it held 1,728 BTC valued at €155.8 million, with a YTD return of 1,231.7% and a quarterly gain of 64.5%.
👉 These purchases, spanning sectors and continents, confirm that Bitcoin accumulation is accelerating globally.
Bitcoin Regains $108K – Closing in on All-Time High
At the time of writing, Bitcoin had reached an intraday high of $108,125, inching closer to its all-time high near $112,000. With rising trading volume and bullish institutional sentiment, the momentum clearly favors the bulls.
Another Catalyst: Middle East Ceasefire
Alongside institutional buying, geopolitical relief played a key role. President Donald Trump’s announcement of a ceasefire between Iran and Israel brought a wave of optimism to the markets and immediately sparked a rally in crypto assets.
The prior threat of war had been a major factor in Bitcoin’s drop to $98,000. As tensions eased, Bitcoin came roaring back – and with force.
#bitcoin , #BTC , #CryptoInvesting , #CryptoMarket , #CryptoNews
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“