According to Crypto.News, on April 29, the web3 radar public account reported that on the morning of April 29, Bitcoin broke through $95,000. Coinglass data shows that over 110,000 people were liquidated in the cryptocurrency market in the past 24 hours, with a total liquidation amount of $275 million.
On the morning of April 29, Bitcoin broke above $95,000. As of the time of writing, Bitcoin is priced at $94,861 per coin, with a 24-hour increase of 1.44%.
Most other cryptocurrency markets are rising, with Ripple up over 2%, and Ethereum, Binance Coin, and Dogecoin all experiencing increases.
According to Coinglass data, over 110,000 people were liquidated in the cryptocurrency market in the past 24 hours, with a total liquidation amount of $275 million, including $170 million from long positions and $110 million from short positions.
Bitcoin is expected to break the $100,000 mark.
In news, the Arizona House of Representatives in the U.S. passed two Bitcoin reserve bills, allowing the state to adopt Bitcoin or other cryptocurrencies as strategic reserves, meaning Arizona will become the first state in the U.S. to require public funds to invest in Bitcoin.
The bill allows state treasurers and retirement systems to invest up to 10% of available funds in digital assets, particularly Bitcoin. The bill summary states: 'This bill represents the state government's incorporation of cryptocurrency into public financial management, reflecting the growing recognition of digital assets.'
Currently, several states, including Missouri and Texas, are considering whether to establish Bitcoin strategic reserves. At the federal level, Trump signed an executive order in March proposing the establishment of strategic reserves for Bitcoin and other digital currencies.
On April 28, IntoTheBlock reported that the number of short-term Bitcoin traders significantly increased last week, indicating a resurgence in speculative demand. If this capital inflow continues, it suggests that the current rise is not just a technical rebound but possibly the beginning of a broader uptrend.
Additionally, Matrixport stated in a market analysis released yesterday that liquidity in the cryptocurrency market has recently improved, with new funds beginning to flow into the market, showing positive changes in the overall environment. After two months of sideways consolidation and slight increases, some positive signs are starting to emerge. If this trend continues, Bitcoin is likely to break the $100,000 mark.
Geoffrey Kendrick, the global head of digital asset research at Standard Chartered Bank, stated that driven by factors such as U.S. investors shifting to non-U.S. assets, Bitcoin is expected to rise to around $120,000 in the second quarter of 2025. In addition, Kendrick maintains a target price of $200,000 for Bitcoin by the end of 2025.
