Bitcoin’s (BTC) momentum has waned this week as markets remained flat thanks to the extended weekend. Price action remained muted despite Strategy announcing its latest Bitcoin purchase. The firm completed the acquisition of 4,020 BTC for $427 million, taking its total stash to over 580,000 BTC.
The flagship cryptocurrency experienced selling pressure as short-term holders faced margin calls and liquidations. However, long-term holders took advantage and increased their accumulation.
Robert Kiyosaki Calls Bitcoin “Easiest Money Ever”
Rich Dad Poor Dad author Robert Kiyosaki believes Bitcoin (BTC) represents the easiest way in history to become rich, citing the asset’s limited supply and endorsements from prominent industry figures. Kiyosaki’s comments came after the flagship cryptocurrency surged to a new all-time high, hovering around $110,000. The author also said this was just the beginning of Bitcoin’s bullish momentum, predicting a move to $250,000 by the end of the year.
Kiyosaki expressed disbelief at investors who had not yet embraced Bitcoin, saying that even holdings as small as 0.01 BTC could become priceless within years. He pointed at the asset’s limited supply as a key driver for future price appreciation.
“I cannot believe how easy Bitcoin has made getting rich…so easy. Why everyone is not buying and holding Bitcoin is beyond me. Even .01 of a Bitcoin is going to be priceless in two years and maybe make you very rich. Sure, Bitcoin goes up and down, but so does real life. There are only 1 or 2 million Bitcoin left to be mined, and the price will go as Raoul Pal describes, into the Banana Zone.”
Bitcoin (BTC) Trades Flat On Memorial Day
Bitcoin (BTC) traded flat on Monday, ending the session where it began after some negligible intraday price action. The flagship cryptocurrency briefly crossed the $110,000 mark but fell back by the afternoon, with trading volumes lower than usual thanks to the extended weekend. Analysts believe Bitcoin could still move towards $120,000. Analyst Aziz Zamani stated,
“The bullish market structure remains intact. From the key swing low at $91,500, Bitcoin has consistently carved out higher lows and higher highs which represents signs of a strong trend. As long as $106,500 continues to hold, momentum remains with the bulls. The current pause in the market appears to be a consolidation within an uptrend rather than a reversal or topping pattern.”
However, several macroeconomic factors could set the tone for the week on Tuesday. President Trump announced a delay in the planned 50% tariff on imports from the EU, pushing the deadline from June 1 to July 9, easing immediate fears of another trade war. Markets are also waiting for key data releases, with consumer confidence data set to be released on Tuesday, followed by a GDP report on Thursday and GDP figures on Friday.
Was Bitcoin (BTC) Rally Driven By The Japanese Bond Market Crisis?
BTC’s surge to a new all-time high could be linked to ongoing issues in the Japanese bond market, indicating BTC’s growing reputation as a hedge against instability in traditional financial systems.
Analysts also attributed the surge to geopolitical developments, while macroeconomic developments have also played a significant role in dictating BTC’s recent price action. According to Bitwise’s head of European research, Andre Dragosch, Japan’s long-term bond yields have registered a substantial spike. The 30-year yield on Japanese bonds reached a new all-time high of 3.185% on May 20 before retreating to 3.115% on May 23. Government bonds are considered safe-haven assets. However, a sharp increase in yields suggests investors are concerned about fiscal sustainability and repayment risk. Dragosch stated,
“Because yields are increasing, sustainability becomes more of an issue, meaning credit risk increases, meaning yields increase even more. And so you end up in this kind of fiscal debt doom loop. This is now affecting other bond markets, especially the US Treasury market. Bitcoin is an immutable asset. It’s free of counterparty risk. It’s a hedge against sovereign risk and sovereign default. Perceived default risk continues rising yields continue rising. This is a rough benchmark of why Bitcoin could be heading toward $200,000.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has started the week on a mellow note as US markets remained closed thanks to the extended Memorial Day weekend. Some analysts believe that besides the holiday, BTC’s rally to a new all-time high has triggered buyer fatigue. The rally dragged the daily Relative Strength Index (RSI) into the overbought zone, suggesting an imminent decline. Signs of waning momentum emerged as the RSI dropped below 70 after a 15% decline. Market intelligence firm Glassnode stated,
“This decline may signal cooling buyer enthusiasm, reduction in upward momentum, and a potential pause or reversal in the recent bullish trend.”
Data from Glassnode also shows that while Bitcoin futures Open Interest reached an all-time high and funding rates increased, the perpetual CVD trended lower, suggesting stronger sell-side flows.
“The persistent decline in CVD reflects bearish sentiment, highlighting dominant sell-side pressure in Bitcoin’s futures market.”
Analysts believe BTC could break out to $150,000, with AlphaBTC stating,
“Bitcoin is still holding above the 106K level. After taking the all-time high, I am watching how $BTC performs over the next couple of days. Ideally, it blasts up and shows strength to leave the breakout to be tested in the future.”
BTC registered a marginal decline on Friday (May 16) and Saturday to settle at $103,235. The price rebounded on Sunday, rising over 3% to cross $106,000 and settle at $106,489. BTC plunged to an intraday low of $102,135 on Monday as selling pressure intensified. However, it rebounded from this level to reclaim $105,000 and settle at $105,572, ultimately registering a decline of almost 1%. BTC recovered on Tuesday, rising 1.21% to reclaim $106,000 and settle at $106,854. Bullish sentiment intensified on Wednesday as BTC rose 2.57% to cross $109,000 and settle at $109,603.
Source: TradingView
BTC raced to a new all-time high on Thursday, surging to $111,970 before registering a marginal decline and settling at $111,582. Price action turned bearish on Friday thanks to President Trump’s renewed tariff threats. As a result, BTC fell nearly 4% to $107,356. The drop also occurred after the flagship cryptocurrency encountered a wall of resistance around $112,000. BTC recovered over the weekend, rising 0.46% on Saturday and 1.15% on Sunday to settle at $109,095. Price action was muted on Monday as BTC registered a marginal increase, briefly rising above $110,000 before settling at $109,453. The current session sees BTC marginally up, recovering from a low of $107,577, trading around $109,635.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
