Current Bitcoin price situation
According to the latest K-line data, Bitcoin is trading at approximately 106,080 USDT (as of 08:00 on 30/05/2025). The price has fluctuated over the past 8 hours, with a low of 104,606 USDT and a high of 106,213 USDT.
Market developments in the past 24 hours
Trading session 00:00: Opening price at 107,026 USDT, closing at 105,728 USDT
Trading session 04:00: Price continues to move sideways, fluctuating around 105,500 USDT
Trading session 08:00: Bitcoin slightly recovers to 106,080 USDT
News affecting the market
Positive signals from U.S. politics
U.S. Vice President JD Vance at the Bitcoin 2025 conference emphasized that cryptocurrency (especially Bitcoin) has become part of the mainstream economy of the U.S. and "will continue to exist"
David Sacks, senior cryptocurrency advisor to the Trump administration, revealed that there are over 200 billion USD of unregulated stablecoins in the market, and an appropriate regulatory framework "could create trillions of USD in demand for U.S. Treasury bonds almost immediately"
Reports indicate Trump holds 2.9 billion USD in cryptocurrency assets, and the Trump Media & Technology Group has just announced raising 2.5 billion USD to invest in Bitcoin
Corporate movements
Cango Inc. has completed the sale of its entire business in China for approximately 351.94 million USD and has restructured its board of directors to focus on global Bitcoin mining
Bitcoin analysts are targeting 120,000 USD as the cryptocurrency market gains momentum after a correction
Market commentary
According to Kitco News, Bitcoin traders still maintain strong control over the market. Despite some minor adjustments, the overall trend remains quite positive. Meanwhile, Ethereum and several other altcoins are showing strong signs, possibly leading the market while Bitcoin is consolidating.
Conclusion
Bitcoin is in a consolidation phase after reaching a high price, supported by positive fundamentals such as backing from top U.S. politicians and increasing participation from institutions. Trading volume remains high, indicating significant interest from investors.