As of May 29, 2025, Bitcoin (BTC) is trading at approximately $108,190 USD, reflecting a slight decline of about 0.6% over the past 24 hours. The cryptocurrency has been fluctuating between $107,083 and $109,057 during the day.
Market Overview:
Recent Performance: Bitcoin remains near its all-time high of $110,000 reached last week, though it has experienced minor pullbacks due to fading hopes of a Federal Reserve rate cut before September .
Trading Activity: The 24-hour trading volume stands at approximately $51.24 billion, with a market capitalization of around $2.15 trillion .
Key Developments:
U.S. Court Blocks Tariffs: A U.S. federal court recently blocked the majority of President Donald Trump's proposed tariffs. Analysts suggest this decision could bolster Bitcoin's momentum, with some predicting a rally toward $120,000 .
Strategic Bitcoin Reserve: In March 2025, President Trump signed an executive order establishing a Strategic Bitcoin Reserve, aiming to maintain government-owned Bitcoin as a national reserve asset. The U.S. government is estimated to hold about 200,000 BTC as part of this initiative .
Crypto Conference in Las Vegas: The ongoing 2025 Bitcoin Conference in Las Vegas has seen participation from prominent figures, including members of the Trump family. However, the event has had limited impact on boosting Bitcoin's price .
Market Sentiment:
Despite short-term fluctuations, the broader sentiment remains bullish. Some analysts project Bitcoin could reach between $130,000 and $1.5 million in the long term, citing factors like institutional adoption and macroeconomic trends .
