#bitcoin.” $BTC is currently trading at $104,239, reflecting a slight decrease of 0.37% over the past 24 hours. The day’s trading range has seen lows of $103,969 and highs of $105,808. This follows a recent all-time high of $111,332 achieved on May 23, 2025. 

⸻

📰 Key Market Developments

• Institutional Investments Surge: Major firms continue to bolster their Bitcoin holdings.

• Strategy acquired an additional 705 BTC for approximately $75 million, bringing its total holdings to 580,955 BTC, which is about 2.8% of the total Bitcoin supply.

• Metaplanet, a Tokyo-based investment firm, purchased 1,088 BTC, increasing its holdings to 8,888 BTC valued at over $930 million, positioning it among the top 10 corporate Bitcoin holders.  

• Market Sentiment and Predictions:

• Analysts suggest a potential short-term pullback, with Bitcoin possibly dipping to the $88,000–$93,000 range before rallying to new highs between $133,000–$136,000 later this year.

• A Stanford PhD holder predicts Bitcoin could reach a new all-time high this week, indicating bullish momentum despite recent price fluctuations.  

• Elon Musk’s XChat Announcement:

• Elon Musk introduced XChat, a messaging app featuring “Bitcoin-style encryption.” However, the announcement had minimal impact on Bitcoin’s price, suggesting Musk’s influence on the crypto market may be waning. 

⸻

🌐 Broader Market Overview

The global cryptocurrency market capitalization has decreased by 4.5%, falling to $3.39 trillion. Trading volumes are at a multi-week low of $73.7 billion, indicating a cautious market sentiment. 

⸻

If you have any specific questions or need further details on Bitcoin or other cryptocurrencies, feel free to ask!